ATLANTA-The locally based national hotel manager is selling nearly 18.3 million shares of its common stock at $10.50 per share. Some large holders of Lodgian's Series A Preferred Stock are also exchanging their shares for 4.1 million shares of common at $10.50 per share.

ATLANTA-Ashford Hospitality Trust Inc. of Dallas has signed a definitive agreement with locally based Day Hospitality Group to acquire a four-property, 365-room portfolio of hotels for $25.9 million in cash.

ORLANDO-Fewer new product will translate to lower vacancy rates and higher rents, predicts a new multifamily market analysis by Marcus & Millichap. Private partnerships from New York and Chicago head the list of investors scouting for properties here.

ATLANTA-The Virginia-based railroad has contracted to buy the 379,000-sf, 23-year-old Promenade I office building on Peachtree and 14th streets in Midtown for about $73.88 per sf. AT&T is relocating its employees to Promenade II, next door, and to other nearby offices.

MELBOURNE, FL-GE Real Estate of Stamford, CT is funding the construction of the planned 23-building, 298-unit Preserve at Longleaf on a 26-acre site in this Space Coast city, about 60 miles southeast of Downtown Orlando.

BUFORD, GA-DIM Vastgoed NV pays Golden Park LLC $9.5 million for the 68,738-sf Golden Park Village in this Forsyth County city. The acquisition brings DIM's Atlanta area investment portfolio to $30 million.

ATLANTA-The Carter Real Estate Fund, Julian LeCraw & Co. and the Morgan Stanley Real Estate Funds jointly pay JP Morgan $57 per sf for the 11-building Fulton County office park that has been rezoned to allow for the development of 1.2 million sf office space and 72 townhomes.

APOPKA, FL-Michael Caridi, a senior broker in the Orlando office of Colliers Arnold Real Estate Services Co., racks up his second $200-plus-per-sf sale of the year. Unicorp National Developments Inc. pays Olde Property Corp. $1.9 million for a prime 1.4-acre corner site housing a 3,048-sf structure.