Inland American sold 10 Hilton and Marriott branded properties and two Choice Hotels and InterContin

Affiliates of Wheelock Street Capital completed its purchase of 12 hotels from Inland American Real Estate Trust Inc. and three hotels metrolink in los angeles from Sunstone Hotel Investors Inc. in separate deals for a combined $221 million.
Inland American sold 10 Hilton and Marriott branded properties and two Choice Hotels and InterContinental affiliates for nearly $116 million. Wheelock Street funded the transaction by assuming CMBS loans and securing new senior financing provided by GE Capital, Franchise Finance.
McKibbon Hotel Management and the North Central Group will manage the select service properties, which include the Homewood Suites, Comfort Inn, Hilton Garden Inn, Hampton Inn, Courtyard Marriott and Holiday Inn brands. The properties consist of more than 1,600 rooms in Phoenix, metrolink in los angeles AZ; Clearwater, FL; Atlanta and Alpharetta, GA; Saint Charles, IL; Charlotte, Fayetteville and Raleigh, NC; and Houston and San Antonio, TX.
Sunstone Hotel sold three full service hospitality properties for $105 million. Wheelock Street assumed the portfolio’s existing CMBS loans. metrolink in los angeles The assets include the 257-room San Diego Hilton Del Mar, the 229-room Minneapolis DoubleTree Guest Suites and the 350-room Detroit Marriott Troy.
Sage Hospitality will manage the San Diego and Minneapolis properties, while Marriott International will continue to oversee the Detroit Marriott Troy. Wheelock plans to finish the ongoing renovation at the Hilton Del Mar and to implement select upgrades to the Marriott Troy and Minneapolis DoubleTree.
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