Hersha Inks $93M Deal For SoCal, Miami Hotels

Law360, New York (May 31, 2013, 4:56 PM EDT) -- Hersha Hospitality Trust is scooping up a pair of hotels in the Southern California and Miami markets — one recently owned by a private equity firm, the other by a distressed seller — for $92.9 million, according to a Thursday statement.

Striking just as the hotel markets in the two areas are picking up, Hersha has closed on the Courtyard San Diego Downtown for $71.1 million and is in a definitive agreement to pick up the Residence Inn Coconut Grove from a distressed seller for $21.8...
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