American Hotel Income Properties REIT Acquires the 110-room Oak Tree Inn Hotel in Wellington, Kansas

American Hotel Income Properties REIT LP | February 26, 2015

VANCOUVER, Feb. 26, 2015 - American Hotel Income Properties REIT LP ("AHIP") (TSX: HOT.UN; OTCQX: AHOTF) announced today the acquisition of a newly built 110-room Oak Tree Inn hotel in Wellington, Kansas (the "Property") from SunOne Developments Inc. ("SunOne") for a total purchase price of US$7,410,000 plus closing adjustments. The acquisition was financed by a combination of: (i) approximately US$1,435,000 from cash on hand; (ii) a new US$4,725,000 mortgage on the Property; (iii) the offset of approximately US$650,000 in mezzanine loans owed by SunOne to a subsidiary of AHIP; and (iv) the issuance of US$600,000 (or 66,927 units) of AH...