Apple Hospitality Two

The real estate investment trust Apple Hospitality Two, Inc. will be merged with an affiliate of ING Clarion Partners, LLC in a $890-million deal. The agreement, expected to close next quarter if shareholders and ING approve, involves a stock-for-cash conversion representing an approximate per-share price of $11.20. The deal also covers debt.

Ashford Hospitality Trust

Ashford Hospitality Trust plans to sell 18 non-strategic assets for $170 million gross for a net of about $33 million, or 35 cents per diluted share. The REIT is marketing the assets, which cover hotels across a variety of brands, to deleverage its balance sheet as it takes over 51 hotels it recently bought from CNL Hotels and Resorts for $2.4 billion.

Comfort Inn-Corporate Gateway

The Mumford Company represented trustee Wachovia Bank in the $5.587-million sale of the Comfort Inn-Corporate Gateway of Richmond, VA to Gateway Hospitality Richmond, LLC. Facilitating the sale to the multi-unit operator of holdings throughout the Mid-Atlantic were David Mumford and Justin Pinkard.

RockBridge Capital

RockBridge Capital closed a $26.6-million first-mortgage investment for acquisition of the recently renovated 212-room Shores Resort and Spa in Daytona Beach Shores, FL. Sponsoring the deal for the oceanfront property is Lowe Enterprises, a private REIT that through affiliate Destination Hotels and Resorts develops, owns and manages properties like the Shores.

Scandic Hotels

Hilton Hotels Corp. aims to sell its Scandic Hotel chain to EQT for about 833 million Euros, or $1.1 billion. The deal involves an exchange of contracts clearing Hilton of ownership of Scandic, the largest hotel operator in the Nordic region.

Subject to European Union approval and expected to net Hilton about $1.4 billion, the transaction aims to help the chain pay down debt.

Silversmith Hotel

The Highland Hospitality Corp. REIT paid $34.5 million, or approximately $241,000 per key, for the 143-room Silversmith Hotel in downtown Chicago. The former Crowne Plaza Chicago will be managed by Crestline Hotels & Resorts. Highland plans to spend another $2.5 million on guestroom upgrades and more meeting space.

Wyndham Albuquerque Airport

Neptune Hospitality Advisors arranged a $23.8-million floating rate interest-only loan to finance American Property Hospitality Management's purchase of the 276-room Wyndham Albuquerque Airport. Following a $6-million renovation, the New Mexico property will become a Sheraton.

Your Online Hotel Real Estate Resource

Whether you're buying or selling lodging real estate, the new Online Real Estate Today website from Lodging Hospitality is the place to go. The site has extensive listings of properties for sale across the U.S. and North America. The listings include property descriptions, locations, selling prices and a contact for more information. Go to

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