Columbia Sussex to sell 14 hotels for $518 million

05/24/2010 | American City Business Journals

Cincinnati's Columbia Sussex says it will sell 14 hotels to Clearview Hotel Trust of Newport Beach, Calif., for $518 million as Columbia grapples with $3 billion in debt. Clearview, a newly formed REIT, is working to raise $375 million in an initial public offering to help finance the acquisition. The hotels are located in 12 states.

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