Los Angeles’ Lowe Enterprises Investors (LEI) has acquired the Doubletree Bedford Glen Hotel in Bedford on behalf of a pension fund client.

AEW Capital Management sold the property on behalf of one of its commingled funds. The 281-room Doubletree Bedford Glen Hotel is located at 44 Middlesex Turnpike.

"The Doubletree Bedford Glen Hotel enjoys a highly desirable location near some of the area’s leading businesses. The property is positioned to benefit from the continuing recovery of the greater Boston hospitality market," said Bleecker Seaman, CEO of LEI. "We will undertake renovations to further enhance the value of the property."

The hotel is located on the I-95 corridor, a major technology development center that is home to Sun Microsystems, IBM and many other high tech businesses. Amenities at the property include an indoor pool, indoor/outdoor tennis facility, fitness center with beach volleyball, 13,000 square feet of meeting space with two ballrooms and a restaurant.

The Doubletree Bedford Glen will be managed by LEI affiliate Destination Hotels & Resorts and will continue to operate as a Doubletree branded hotel.

The hotel underwent significant renovation in 2006. To further enhance the hotel and increase its value, LEI will implement a $1 million capital improvement program to upgrade the property exterior, common areas, meeting space and mechanical systems.

"We are actively seeking additional investment opportunities in the east and northeast, and the Boston market is of particular interest. Favorable employment trends coupled with the improving hotel market make this region a very attractive investment option," said Mike Everett, senior vice president of acquisitions for Lowe Hospitality Group.