American Hotel Income Properties Completes Portfolio Acquisition of Five Railway Hotels for $44.8M

American Hotel Income Properties REIT LP | September 17, 2015

VANCOUVER, Sept. 17, 2015 - American Hotel Income Properties REIT LP ("AHIP") (TSX: HOT.UN; OTCQX: AHOTF) announced today the completion of its previously announced strategic acquisition of a portfolio of five railway lodging facilities (the "Railway Portfolio") for an aggregate purchase price of approximately US$44.8 million, excluding closing and post-acquisition adjustments. The Railway Portfolio is comprised of 586 guestrooms across five hotels located in Belen, New Mexico; Edgemont, South Dakota; Gillette, Wyoming; Guernsey, Wyoming; and Ravenna, Nebraska. The Railway Portfolio is secured by long term lodging contracts with one of ...