RLJ Lodging Puts Down $313M For 10 Hyatt Properties

Law360, New York (February 7, 2014, 1:24 PM EST) -- RLJ Lodging Trust has purchased a portfolio of 10 U.S. hotels from Hyatt Hotels Corp. for about $313 million, the companies said Thursday, in a deal designed to bolster RLJ's presence on the West Coast.

The deal is expected to be completed in March 2014. RLJ said it expects to fund the acquisition using cash on hand, its undrawn revolving credit facility and debt financing. Thomas J. Baltimore, president and CEO of RLJ, said in a statement Thursday that the Maryland-based real estate investment trust is...
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