v2.3.0.11
Subsequent Events
6 Months Ended
Jun. 30, 2011
Subsequent Events  
Subsequent Events

17.       Subsequent Events

 

On July 15, 2011, the Company paid a dividend of $0.08 per common share of beneficial interest to shareholders of record at June 30, 2011.

 

On August 5, 2011, the Company transferred title to the New York LaGuardia Airport Marriott to the lenders pursuant to a deed in lieu of foreclosure arrangement (see Note 6). As a result, the Company expects to record a third quarter gain on the forgiveness of indebtedness of approximately $23.0 million.