American Hotel Income Properties REIT LP to Acquire Strategic Railway Lodging Portfolio of 5 Hotels

American Hotel Income Properties | August 24, 2015

VANCOUVER, Aug. 24, 2015 - American Hotel Income Properties REIT LP ("AHIP") (TSX: HOT.UN; OTCQX: AHOTF) announced today that it has agreed to acquire through its subsidiaries a portfolio of five strategic railway lodging facilities (the "Railway Portfolio") for an aggregate purchase price of US$44,775,000, excluding closing and post-acquisition adjustments. ACQUISITION HIGHLIGHTS • The Railway Portfolio consists of five hotels containing 586 total guest rooms that are being acquired for approximately US$76,500 per guest room, which is below management's estimate of replacement cost. • The five railway lodging facilities inclu...