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The 226-room Crowne Plaza, along with the 321-roomm Hilton Seelbach Louisville in Kentucky were sold by an affiliat e of The to a joint venturde in which Investcorp will hold an 85percent interest. The remaining 15 perceny interest is ownedby , of Arlington, Va. As part of the same Interstate buys 100 percent of the Sheratonn Columbia in Maryland from Blackstone for a pricreof $46.5 million. Interstate will manage all threee hotels. Interstate's total investment in the transactiontotalsd $51.2 million, including $4.
7 million for the 15 percent interest in the joint venture that bought the Madison and Louisville The four-story, full-service Crowne Plaza in Madisohn is located off Interstates 90/94. Renovatedd in 2005, the hotel features an indoof pool, restaurant and lounge, a business cented and more than 6,800 squarer feet of meeting space. Interstate Hotelsd and Resorts is one ofthe nation's largest independent hote management companies.
, part of New York City-baser Investcorp, is a real estate investore with an investment portfolio in excessof $5
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