RLJ Lodging Trust Spends $146.5M To Pick Up NY, DC Hotels

Law360, New York (May 31, 2012, 3:56 PM EDT) -- RLJ Lodging Trust on Thursday said it ponied up $146.5 million to add two Marriott hotels to its portfolio, including one on Manhattan's Upper East Side that has been plagued by bankruptcy and another in the Washington, D.C., metro area.

The hotel-focused real estate investment trust notched its $82 million purchase of the beleaguered New York hotel, the 226-room Courtyard New York Manhattan/Upper East Side, in a court-ordered bankruptcy sale.

The Courtyard hotel has been locked in bankruptcy proceedings since August, stoking conflict between its three...
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