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Sheraton at Pittsburgh’s Station Square sold

Forest City Enterprises, Cleveland, Ohio, has completed the sale of the Sheraton Station Square in Pittsburgh, Pennsylvania, to a joint venture led by Pyramid Hotel Group, Boston, and including an affiliate of Glenmont Capital Management, New York City, for US$61 million. Pyramid will operate the hotel under a long-term Sheraton franchise agreement with Starwood Hotels & Resorts Worldwide. The 399-room hotel is adjacent to the Station Square retail/entertainment complex in downtown Pittsburgh and features more than 30,000 sq ft (2,787 sq m) of indoor meeting space. "Pittsburgh is a highly stable lodging market, and the Sheraton Station Square offers an…
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