The real estate investment trust (REIT) formed by Black Entertainment Television founder Robert L. Johnson, RLJ Lodging Trust (NYSE: RLJ), has acquired an Atlanta hotel for $49.5 million.
The hotel, the Hyatt Atlanta Midtown, has 194 rooms. The hotel reopened in 2013 after a renovation.
RLJ has made several other recent hotel acquisitions. In June, the group picked up the Hilton Cabana Miami Beach for $71. 6 million. Before that, in May, RLJ paid $120 million to buy two hotels the Courtyard Portland City Center and the Embassy Suites Irvine Orange County. In June 2013, the group announced a deal for the Courtyard by Marriott Waikiki Beach for $75.3 million.