American Hotel Income Properties REIT LP Completes the Sale of the Wingate Tampa Hotel

American Hotel Income Properties REIT LP | September 1, 2020

VANCOUVER, BC, Sept. 1, 2020 - American Hotel Income Properties REIT LP ("AHIP" or the "Company") (TSX: HOT.UN, HOT.U, and HOT.DB.U) announced today that it has closed the previously announced sale of its 86-room Wingate Tampa property for gross proceeds of US$7.5 million. AHIP has provided US$2.65 million in financing for the buyer, secured by a mortgage, which is repayable at the end of three years along with accrued interest. Net proceeds of the sale will be used to repay amounts outstanding under the Company's revolving credit facility. "We're pleased to complete the sale of this non-core asset, which was nearing significant brand-...