American Hotel Income Properties to Acquire 12 Premium Branded Hotels for $191.0 Million

American Hotel Income Properties REIT LP | December 2, 2019

AHIP also confirms completion of the previously announced profitable sale of the Economy Lodging portfolio for gross proceeds of $215.5 million Acquisition of the 12 Premium Branded hotels at an approximate 8% capitalization rate The hotels, all built in the last five years, are being acquired below replacement cost Transaction follows completion of the sale of the Economy Lodging portfolio; AHIP is now exclusively a premium branded hotel REIT The acquisition will be financed using proceeds from the sale of the Economy Lodging portfolio and a new interest-only fixed-rate term loan (All numbers are in U.S. dollars unless ot...