Global law firm Proskauer advised American Realty Capital Hospitality Trust, Inc. (ARC Hospitality) in connection with the completed acquisition of the Equity Inns Lodging Portfolio from affiliates of the Whitehall Real Estate Funds sponsored by Goldman Sachs for $1.8 billion, exclusive of closing costs.
The portfolio consists of 116 hotels totaling 13,744 rooms across 31 states, all franchised by Hilton Hotels & Resorts, Marriott International, Hyatt Hotels and InterContinental Hotels Group. The hotels include brands such as Hampton Inn, Hilton Garden Inn, Homewood Suites, Embassy Suites, Courtyard, Residence Inn, Hyatt Place and Holiday Inn. The acquisition increases ARC Hospitality’s lodging portfolio to 122 hotels totaling 14,925 rooms, establishing ARC Hospitality as one of the largest owners of select-service hotels in the North American lodging REIT sector.
The team was lead by co-head of Proskauer’s Real Estate Capital Markets Group Peter Fass; partners Michael Choate (Capital Markets) and Leslie Loffman (Tax); special counsel Timothy Donovan (Tax); and associate Samuel Kardon (Capital Markets).
Source: www.proskauer.com
