SAN FRANCISCO and MINNEAPOLIS—Flynn Properties Inc. in a joint venture with Värde Partners announced that it has acquired an 80 percent joint venture interest in 89 select-service and extended-stay hotels in a $1.1 billion implied total enterprise value transaction from affiliates of Highgate and Cerberus Capital Management, L.P. With properties located throughout the United States, the portfolio comprises 58 Marriott-branded hotels, 24 Hilton-branded hotels, four Radisson-branded hotels, two IHG-branded hotels, and one Choice-branded hotel, which […]

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