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RLJ Lodging Closes $313M Hotel Deal

BETHESDA, MD—The REIT has been in active capital recycling mode for the last several months.

By Erika Morphy | Updated on March 13, 2014

BETHESDA, MD—RLJ Lodging Trust has closed on its $313 million acquisition of 10 Hyatt, Hyatt Place and Hyatt House hotels that it first announced February. It is one of a handful of transactions the local REIT has made in recent months with an eye to recycling its capital and repositioning its portfolio.

The hotels are located largely in California, with three properties in Texas, one in Wisconsin and another in North Carolina. RLJ plans on investing $25 million over the next 24 months on the portfolio. A Hyatt affiliate will continue to manage the hotels under new agreements now that the deal has closed.

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