Norwalk, Conn-based HEI Hotels & Resorts (HEI) has purchased an ownership interest in Boston’s 300-room Liberty Hotel in a joint venture arrangement with Cambridge-based Carpenter & Co. Inc.

The purchase amount was not disclosed. HEI acquired the ownership interest from Seattle, Wash.-based Multi-Employer Hotel Partners LP, according to a statement.

HEI will oversee the Liberty Hotel’s management and Carpenter will continue to be the hotel’s asset manager. The purchase of ownership interest has affiliated the hotel with The Luxury Collection by Starwood Hotels & Resorts under a franchise agreement.

"Following a thorough vetting where we interviewed a large number of prospective partners, HEI, with its sterling reputation as one of the nation’s leading owners and operators of high quality properties, rose to the top of our list," said Richard L. Friedman, Carpenter’s CEO. "We have been involved with this property since it was an abandoned jail and we firmly believe this unique hotel has significant, untapped upside potential and a fabulous, dedicated staff. By joint venturing with HEI, we are confident that the best is yet to come."