RLJ Lodging Trust buys Tenn. hotel for $59M

RLJ Lodging Trust has acquired the fee-simple interest in the 21c Museum Hotel Nashville, a 124-room property, in a deal worth $59 million. In addition, the REIT also repurchased company shares at a “meaningful discount to our [net asset value] with proceeds from asset sales, accretively,” according to CEO Leslie Hale.