Carey Watermark acquires interest in Calif. Fairmont property

07/12/2013 | (free registration)

Carey Watermark Investors has acquired a 75% stake in the Fairmont Sonoma Mission Inn & Spa in Sonoma, Calif., through a joint venture. The total investment in the property amounted to $97.1 million, backed by $44 million of debt. Fairmont Hotels & Resorts will retain management over the property as well as the remaining 25% interest in it.

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