Blackstone Real Estate Partners VII LP, has purchased a Weston branded hotel for $10.2 million. The company picked up the 94 room TownePlace Suites Fort Lauderdale in Weston for just over $108,510 per key. The property was built and developed by Royal Palm Beach-based Pinnacle Management Company LLC. which acquired the land for the hotel in 2000 for $1.15 million. Located at 1545 Three Village Road, TownePlace Suites is an extended-stay hotel which operates under the Marriott flag.
