AP AIMCAP, a joint venture of two private equity firms, is acquiring Eagle Hospitality Properties Trust for $13.35 per share in cash.The Covington, Ky.-based real estate investment trust reported that the purchase price was about 21% higher than its recent average stock price. The Eagle portfolio includes 13 hotel properties, with a total of 3,516 rooms, run under hotel brands including Hilton, Marriott, Embassy Suites, and Hyatt. The acquiring companies said they believe that the Eagle portfolio "consists of a diversified group of well-branded hotels with strong cash flow." The transaction is expected to close in the third quarter.
JV Buying Eagle Hospitality
April 30, 2007, 2:00 p.m. EDT 1 Min Read
