Tuesday, 18 September 2007

Inland American to Buy RLJ Urban Lodging Fund in a $920Mln Deal

Inland American Real Estate Trust has agreed to buy RLJ Urban Lodging Fund, which owns 22 hotels with 4,061 rooms, in a deal valued at $920 million. RLJ Urban Lodging is led by Robert L. Johnson, founder of Black Entertainment Television and owner of the professional basketball Charlotte Bobcats.

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