Paul Hastings Reps Starwood In $735M InTown Suites Buy

Law360, Los Angeles (July 10, 2013, 5:21 PM EDT) -- An affiliate of Connecticut private equity firm Starwood Capital Group has acquired 100 percent of the common stock of InTown Hospitality Corp. for approximately $735 million, including the assumption of $609 million of existing mortgage debt, Starwood's counsel, Paul Hastings LLP, announced Tuesday.

Extended-stay lodging chain InTown Suites was previously owned by joint venture InTown Hospitality Investors LP, in which Kimco Realty Corp., the largest U.S. owner of community shopping centers, held a 75 percent interest. The InTown portfolio was Kimco’s single largest remaining nonretail investment...
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