LaSalle Hotel Properties, a lodging real estate investment trust, has sold a New York hotel for $69 million.

Bethesda-based LaSalle sold the 438-room LaGuardia Marriott Hotel to RLJ Lodging Fund II, an affiliate of RLJ Development, part of the Bethesda-based RLJ Cos., headed by entrepreneur and investor Robert Johnson.

LaSalle says it will recognize a gain of $31.1 million on the sale.

The company owns 31 hotels with a total 8,500 guest rooms in 11 states and the District. LaSalle plans to grow through partnerships with industry players such as Westin, Sheraton, Hilton, Crestline, Hyatt and Kimpton.

Published January 26, 2007 by the Washington Business Journal

This entry was posted on Sunday, January 28th, 2007 at 3:41 am and is filed under Real Estate. Tags: Bethesda development Hilton hotel properties Hotels Hyatt Kimpton LaSalle Hotel Properties Marriott Marriott Hotel New York New York hotel Real Estate real estate investment real estate investment trust Sheraton Washington Washington Business Journal Westin York Hotel . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.