NorthStar Realty Finance Corp. (NYSE: NRF) today announced that it has closed its acquisition of a $1.1 billion hotel portfolio from Inland American Real Estate Trust. NorthStar Realty now owns a $3 billion hotel portfolio comprised of 155 premier upscale extended stay and select service hotels with 20,250 rooms.
Strategic Hotels & Resorts, Inc. (NYSE: BEE), today announced that the Company has signed an agreement to acquire the Four Seasons Resort Scottsdale at Troon North from an affiliate of Walton Street Capital, L.L.C. for $140.0 million, which includes 13.8-acres of developable land zoned for an additional 88 hotels keys and potential incremental residential usage. Management has valued the land parcels at $6.0 million.