LaSalle Hotel Properties, Bethesda, Md., and LaSalle Investment Management, Chicago, have announced a joint venture to seek U.S. hotel investments in urban and resort markets with high barriers to entry. The companies said they plan to invest up to an aggregate of $250 million of equity in the venture. LaSalle Hotel Properties, a real estate investment trust, will own 15% of the venture, which is expected to have an acquisition period of up to three years and a life of up to seven years, the companies said. They can be found online at http://www.lasallehotels.com and http://www.lasalle.com.
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