Market Overview

FelCor Sells Embassy Suites Hotel in Anaheim for $25.5M

FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it has sold the 222-room Embassy Suites – Anaheim-North for $25.5 million to Urban Commons, LLC. FelCor will use the net proceeds to repay a portion of the $88 million balance on the CMBS loan that matures in 2013.

As part of its long-term portfolio repositioning strategy, which includes the sale of 39 non-strategic hotels, FelCor is currently marketing nine hotels. FelCor has sold 16 of the 25 hotels that it has brought to market since December 2010.

Posted-In: News M&A

 

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