Hotel operator Innkeepers USA Trust said Monday it will be acquired by an affiliate of Apollo Investment Corp. for $1.5 billion. At next week's PC Symposium, a panel of real estate dealmakers will discuss the future of private equity in the industry. Real estate dealmaking has become a hot topic in the weeks since Blackstone Group LP's buyout of Equity Office Partners Trust, which for a short time was the largest buyout ever. However, as Blackstone flipped its new assets, questions about the sector's prospects came to the forefront. Obviously, real estate-related LBOs are not going away as the Innkeepers deal suggests. Nonetheless, was EOP the peak or just the beginning of bigger deals to come? At The Deal's PC Symposium April 23 and 24th, Richard Mack, Managing Partner, Apollo Real Estate Advisors; Dennis Irvin, Group Head and Senior Managing Director, CIT; and Kevin Donahue, Senior Vice President, Midland Loan Services will try to answer these and other questions and perhaps reveal future targets.—Matthew Wurtzel
See Innkeepers story from TheDeal.com
See EOP story from TheDeal.com
See PC Symposium Web site
Continue reading below
