RockBridge flexes equity muscle in deal
NATIONAL REPORT— Hotel portfolio acquisitions aren’t exactly growing on trees these days as a result of the real estate market’s rather strict lending conditions. But when RockBridge Capital, LLC recently purchased four Rocky Mount, NC, hotels for $33 million, the deal proved that when transactional opportunity, creativity and flexibility meet, a portfolio can still change hands.
UBS sells New Orleans’ Omni Royal Orleans
NEW ORLEANS— A group of local area investors have purchased the 346-room Omni Royal Orleans Hotel here from UBS Realty Investors, LLC for an undisclosed price.
Two LaSalles come together for a JV
BETHESDA, MD— Hotel REIT LaSalle Hotel Properties and real estate investment manager LaSalle Investment Management, Inc., a member of the Jones Lang LaSalle Group, have formed a joint venture that will seek U.S. hotel investments in high barrier-to-entry urban and resort markets.
Hilton Baltimore set for August opening within Inner Harbor
BALTIMORE— The Hilton Baltimore is now scheduled to premier in Baltimore’s Inner Harbor in August with 757 rooms.
Gaylord pulls out of San Antonio deal
SAN ANTONIO— In a proposed deal that’s been ongoing since November of 2007, Gaylord Entertainment Co. has chosen to pull out of its agreement to acquire the Westin La Cantera Resort here from Starwood Hotels & Resorts Worldwide, Inc.
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