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Brack Capital closes $163M sale of InterContinental-managed NYC hotel

Amsterdam-based Brack Capital Real Estate BV completed the $162.5 million sale of its holdings in the Hotel Indigo on the Lower East Side in Manhattan, N.Y., to MRR Development.

The hotel at 171 Ludlow St. includes 293 rooms.

InterContinental Hotels Group PLC will continue to operate the property under its Hotel Indigo brand following the sale.