NEW JERSEY—New York City-based Clarion Partners LLC has acquired Hanover Marriott in Whippany, N.J. on behalf of an institutional investor. Terms of the transaction were not disclosed.
Containing 353 guestrooms and suites, the Hanover Marriott also includes 18,000 sq. ft. of meeting space and contains an Irish pub. The property underwent a complete renovation of the guestrooms and public areas in 2011.
“The Hanover Marriott has an excellent location in one of the nation’s largest office markets, and is well positioned to deliver strong returns,” said Chuck Lathem, managing director and head of Clarion Partners’ hospitality investments group. “