LaSalle Hotel with three property sales

|About: LaSalle Hotel Properties (LHO)|By:, SA News Editor

Two hotels have been sold and another is under contract - total proceeds of $218.9M.

Proceeds will be used to redeem $68.8M outstanding of 7.5% Series H preferred stock.

Including another sale in January, LaSalle (NYSE:LHO) will have sold four properties this year for $273.9M at an average 6.5% trailing cap rate.