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Meadowlands Hilton sold.

The Meadowlands Hilton in Secaucus, New Jersey, has been sold to Metrostate Corporation, a New Jersey investor group, for an undisclosed sum, Equitable Real Estate Investment Management, Inc., announced.

Metrostate Corporation plans to continue a $4 million project, begun by Equitable Real Estate, to renovate the full-service, 308-room hotel, which was completed in 1978. Equitable Real Estate has owned the hotel on behalf of its parent company, The Equitable, since 1991.

The transaction was brokered by Thomas M. Hamm & Company, Inc., a Stamford, Connecticut-based commercial realtor specializing in hotel properties.

The 14-story Meadowlands Hilton overlooks the Hackensack River and is situated off of Route 3, between the eastern and western spurs of the New Jersey Turnpike/I-95, six miles from Manhattan and just across the Hackensack River from the Meadowlands Sports Complex. The hotel contains extensive meeting, banquet and exhibition space. Additional amenities include an atrium piano bar, garden cafe restaurant, outdoor pool and lawn recreation area, fitness center, business center and gift shop.

Equitable Real Estate was assisted in expense reduction and increased occupancy by Interstate Hotels Corporation, the on-site manager retained by the owner while a sales strategy was pursued.
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Title Annotation:Metrostate Corp. purchases hotel in Secaucus, New Jersey
Publication:Real Estate Weekly
Date:Jul 14, 1993
Words:192
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