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Eight Adam's Mark Sold to Joint Venture

Pyramid Advisors/Morgan Stanley Joint Venture Acquires 8-Hotel Portfolio for $236M
By Sophia Im
January 12, 2004 | 3:40 P.M.

A joint venture between Pyramid Advisors LLC, a Boston, MA-based hotel company, and Morgan Stanley Real Estate Fund IV-Domestic (MSREF), a private real investment fund, acquired a portfolio of eight Adam’s Mark hotels comprising 2,887 rooms from St. Louis, MO-based HBE Corp. for $236 million, about $81,747 per room.

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