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They own the buildings, but they don't leave the chocolate on your pillow. Innkeepers USA Trust is a self-administered real estate investment trust (REIT) that primarily invests in upscale and extended-stay hotel properties. (It also invests in full-service hotels and mid-priced lodgings.) Laden with more than $1 billion in debt, the REIT filed for Chapter 11 bankruptcy protection in July 2010. Cerberus Capital Management and Chatham Lodging Trust won an auction to buy about 65 of the REIT's hotels -- the bulk of its portfolio. Concurrent with the October 2011 purchase...
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