FelCo Lodging Trust sells Sheraton for $84.5M

IRVING, Texas (AP) — Real estate investment trust FelCor Lodging Trust Inc. said Wednesday it has sold a 443-room hotel in Virginia to JBG Cos. for $84.5 million in cash.
Starwood Hotels & Resorts will continue to manage the Sheraton Premiere Hotel at Tysons Corner in Vienna, FelCor said.
The property was owned in a joint venture between FelCor and Starwood. FelCor received $42.3 million in gross proceeds, and there was no debt associated with the hotel, the company said.
Shares in FelCor slipped 7 cents to close at $6.67 on Wednesday.