LaSalle Hotel Properties: Pebblebrook sells two hotels to Highgate and LeFrak

Following the contentious bidding war with investment giant the Blackstone Group for control of LaSalle Hotel Properties, Pebblebrook Hotel Trust sold two of its New York hotels to Highgate Hotels and the LeFrak Organization as it trims its portfolio. The deals were the first phase of the Maryland-based real estate investment trust's plan to sell between $750 million and $1.25 billion worth of LaSalle legacy hotels over the next six to twelve months following the [...]