INLAND AMERICAN PURCHASES THE FAIRMONT DALLAS FOR $69M

DALLAS — Orlando, Fla.-based Inland American Lodging Group, Inc., a subsidiary of Inland American Real Estate Trust, Inc., has purchased The Fairmont Dallas for $69 million. The Fairmont Dallas is comprised of two towers totaling 545 guestrooms and 70,000 square feet of meeting space for conventions. The Fairmont has received $14.9 million in capital improvements in the past 4 years. Atlanta-based Hodges Ward Elliot brokered the transaction.