Sandpiper Lodging Trust Acquires Five Extended Stay Hotels

Sandpiper | January 17, 2023

(Richmond, Va. – January 17, 2022) – Sandpiper Lodging Trust (SLT) announced today that it completed the acquisition of five operating hotels from affiliates Sandpiper Hospitality III, LLC and Sandpiper Hospitality IV, LLC that operate under the WoodSpring Suites brand. These five properties are located in White Marsh, MD, Greenbelt, MD, Virginia Beach, VA and two in Baton Rouge, LA. After this transaction, SLT owns 28 extended stay hotel assets across 9 states. The transaction was financed with a combination of borrowing under the Company’s recently expanded $200 million revolving credit facility, the assumption of existing debt on...