Inland Pays $189M For 3 Luxury Hotels, Continuing Spree

Law360, New York (November 4, 2013, 5:08 PM EST) -- Inland American Real Estate Trust Inc.’s hotel arm will shell out $189 million to acquire three luxury Hotel Monaco locations from Kimpton Hotels & Restaurants, bringing the investment firm’s total number of hotels purchased this year to 13, according to an announcement Monday.

Under the deal, Inland American Lodging Group Inc. will own the Hotel Monaco locations in Chicago, Denver and Salt Lake City, which is a total of 605 rooms, according to a statement. Kimpton will continue to operate the locations.

The Hotel Monaco brand...
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