Starwood Capital, the real estate investment firm led by former Starwood Hotels CEO and founder Barry Sternlicht, is buying InTown Suites extended-stay hotel chain from a Kimco Realty Corp. (KIM) venture for $735 million, including debt.

The InTown portfolio is composed of 138 extended-stay properties predominantly in the southern U.S., with concentrations in Texas, Georgia and Florida. More in release.