Florida hotel REIT buys lessee's properties

01/13/2004 | American City Business Journals

Innkeepers USA Trust, a Palm Beach, Fla., hotel REIT, said it bought 11 more properties from Innkeepers Hospitality, after buying 23 in December and has paid about $3.9 million of the $5.25 million total. Innkeepers Hospitality is the REIT's principal lessee and one of its affiliates will manage the properties.

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