RLJ Lodging closes sale of 11 hotels

02/24/2014 | GlobeSt.com

RLJ Lodging Trust has sold an 11-asset hotel portfolio for $85 million. The assets are noncore to the REIT's investment strategy, and the proceeds will be used on higher-yielding hotels, according to CEO Thomas J. Baltimore Jr. This deal follows a $313 million portfolio acquisition RLJ Lodging made earlier this month.

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