Goldman Sachs Comments On LaSalle Hotel Properties Acquisition of Villa Florence in San Francisco

Goldman Sachs has published a research report on LaSalle Hotel Properties LHO after the company announced its acquision of Villa Florence in San Francisco, CA. In the report, Goldman Sachs writes, "After the close LaSalle announced the purchase of the Villa Florence in San Francisco for $67.2 million. This amounts to $369,000 per key, a 6.3% cap rate and 13.6X EBITDA on trailing twelve month numbers ending September 30th. The acquisition was funded with cash on hand." Goldman Sachs maintains its CL-Buy rating on LaSalle Hotel Properties, which closed yesterday at $19.04 and is currently trading down $0.11 today since market open.