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Northstar and Chatham to Acquire Innkeepers Portfolio

Northstar and Chatham to Acquire Innkeepers Portfolio

PALM BEACH, Fla.–Cerberus Capital Management and Chatham Lodging Trust reached an agreement to sell their Innkeepers joint venture for $1.3 billion. Northstar Realty will acquire Cerberus Capital Management’s 89.7 percent interest in the joint venture, and Chatham will retain its ...

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Hersha Hospitality Trust Closes Sale of Hotel 373

Hersha Hospitality Trust Closes Sale of Hotel 373

PHILADELPHIA—Hersha Hospitality Trust announced that the company has closed on the previously-announced sale of Hotel 373 in midtown Manhattan for $37 million, or approximately $529,000 per key. “The successful closing of the sale of Hotel 373 at attractive pricing highlights ...

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Concord Hospitality Sells 13-Hotel Portfolio for $240M

Concord Hospitality Sells 13-Hotel Portfolio for $240M

RALEIGH, N.C.—Concord Hospitality Enterprises has announced the sale of a portfolio of 13 premium-branded, select-service hotels to companies owned by a global investment fund for approximately $240 million in an all-cash transaction. Concord will continue to operate the hotels under ...

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Starwood Hotels Sells Aloft Tucson University

Starwood Hotels Sells Aloft Tucson University

STAMFORD, Conn.—Starwood Hotels and Resorts Worldwide Inc. has completed the sale of Aloft Tucson University to Lightstone Value Plus Real Estate Investment Trust II Inc., a public, non-traded REIT sponsored by The Lightstone Group, a privately held real estate company, ...

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