Interstate completes Blackstone buy

7th Feb 2008

Interstate has announced that its joint venture with Harte Holdings of Cork, Ireland, has completed the previously announced acquisition of four hotels from affiliates of The Blackstone Group for an aggregate price of $207.8 million.  Interstate invested approximately $11.5 million for a 20 percent equity interest in the four hotels.  Interstate funded the acquisition with available cash and capacity under its senior revolving credit facility. 


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