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American Hotel Income Properties Announces Agreement to Acquire 12 Premium Branded Hotels for $191.0 Million
American Hotel Income Properties Announces Agreement to Acquire 12 Premium Branded Hotels ...
About this update from American Hotel Income Properties Reit Lp
[{"type":"text","content":"\n\n\n\nAmerican Hotel Income Properties Announces Agreement to Acquire 12 Premium Branded Hotels for $191.0 Million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen3{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen5{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen6{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen4{\nBORDER-TOP:1pt; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Nov. 28, 2019\n\n\n\nAHIP also confirms completion of the previously announced profitable sale of the Economy Lodging portfolio for gross proceeds of $215.5 million\nAcquisition of the 12 Premium Branded hotels at an approximate 8% capitalization rate The hotels, all built in the last five years, are being acquired below replacement cost Transaction follows completion of the sale of the Economy Lodging portfolio; AHIP is now exclusively a premium branded hotel REIT The acquisition will be financed using proceeds from the sale of the Economy Lodging portfolio and a new interest-only fixed-rate term loan(All numbers are in U.S. dollars unless otherwise indicated)\n VANCOUVER, Nov. 28, 2019 /CNW/ - American Hotel Income Properties REIT LP (\"AHIP\", the \"Company\") (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.U) is pleased to announce that it has reached a definitive agreement (the \"Definitive Agreement\") to acquire a portfolio o...