Rockwood Capital acquires Aloft, Element Lexington in Mass.

Rockwood Capital has completed its purchase of the Aloft Lexington and Element Lexington in Lexington, Mass., from Starwood Hotels & Resorts Worldwide. The dual-hotel property, which includes 136 rooms under Aloft Lexington and 123 rooms by Element Lexington, was sold for $36 million. The new owner plans to retain the property’s branding and place it under the management of Paramount Hotel Group. Read the Travel Daily News International story here.