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March 21, 2006

By Michelle Napoli

Six Sofitel hotels in the US are being sold by the North American division of Paris-based Accor SA in a sale and management-back transaction. A joint venture of Chicago-based GEM Realty Capital Inc. and Whitehall Street Global Real Estate LP 2005, a Goldman, Sachs & Co. fund, agreed to pay $370 million to acquire the properties.

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