Behind the Deal: RLJ's Hyatt Buy
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Poring over various SEC filings this week, we uncovered an interesting tidbit from this summer's acquisition of Hyatt Atlanta Midtown by RLJ Lodging Trust. The company paid $49.5M for the 194-room hotel, or some $255k/key from Noble Investment Group. Here's the interesting fact: Based on RLJ's projected 2015 net income on the hotel, it paid a “forward capitalization rate” of 8%. That's certainly a better cap rate than apartment buyers are getting nowadays.