Topic: Inland American

NorthStar, Chatham JV buying $1.1bln worth of Inland American hotels

Portfolio deals are alive and well, and today comes news of a big one. Inland American Real Estate Trust, which in August announced plans to spin off its lodging subsidiary, has entered into a definitive agreement to sell a portfolio consisting of 52 select-service hotels with 6,976 rooms to a joint venture formed by NorthStar Realty Finance Corp. and Chatham Lodging Trust for approximately $1.1 billion.

Inland American spinning off lodging business

Inland American Real Estate Trust, a non-traded real estate investment trust, plans to spin off its lodging subsidiary into a publicly traded company called Xenia Hotels & Resorts Inc., which will own 46 hotels in 19 states and D.C., and a majority stake in two properties under development.