DiamondRock lines up capital to begin new round of acquisitions

04/23/2011 | GlobeSt.com

DiamondRock Hospitality has closed on a $100 million limited recourse loan on its Hilton Minneapolis hotel. The proceeds will be used for acquisitions, said CEO Mark W. Brugger. The REIT has been quietly building a cash reserve for acquisitions. Earlier this year, it brought in almost $150 million from an offering.

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