FelCor Lodging Trust (NYSE:FCH) is now one asset lighter. The real estate investment trust announced it has inked an agreement to sell its Sheraton Suites Galleria hotel in Atlanta for $21 million. The buyer, which FelCor did not identify, has paid an $840,000 deposit for the purchase. The company expects the sale to close next month.
FelCor said it will use all the proceeds from the deal to pay down debt.
Sheraton Suites Galleria is a 277-room facility located in a busy commercial section of the city just below the 285 highway. It is one of many hotels in the area.
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