JER Partners Completes Acquisition of Highland
JER Partners, the private equity division of McLean-based J.E. Robert Companies, said yesterday it has completed its acquisition of Highland Hospitality Corporation, a McLean-based real estate investment trust specializing in business hotel properties. The deal, first announced in April, is valued at roughly $2.1 billion, JER Partners said in a statement. Highland owns 28 hotels in 14 states. The brands in its portfolio Marriott, Ritz Carlton and Hilton Garden Inn.
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