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Chang buys two NYC hotels for US$155 million

Sam Chang’s McSam Hotel Group purchased two New York City Club Quarters hotels for US$155 million.

The Midtown properties were acquired from Rockwood Capital. Chang told the Commercial Observer that his Great Neck, New York-based company would hold onto the properties for the cash flow. Both properties have long-term contracts with the Club Quarters brand.

Earlier in the week, Chang bought the Holiday Inn LaGuardia in Queens for US$38 million.

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