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Byline: Realestate By Nancy Salem firstname.lastname@example.org / 823-3675
The 129-room Hilton Garden Inn in Rio Rancho is part of a 10-hotel portfolio Lodgian Inc. sold to Sunstone Hotel Investors Inc. Lodgian, based in Atlanta, said the $132 million sale recently closed. The company said proceeds will be used to pay down its debt.
"This transaction is consistent with Lodgian's strategy of reducing debt by selling hotels, particularly those properties in markets where the company has concerns regarding future business trends," said Robert S. Cole, Lodgian's chief executive officer.
The other hotels are in Alaska, California, Idaho and …