Another publicly traded REIT has agreed to be taken private in a $2 billion buy-out. Private equity player JER Partners will acquire hotel REIT Highland Hospitality Corp. (NYSE: HIH) through its investment vehicle, JER Partners Acquisitions IV LLC for $19.50 per share or approximately $1.7 billion. The valuation represents a 15% premium over the average price the stock has traded at for the past three months.