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American Hotel Income Properties REIT LP Announces US$50 Million Strategic Investment by BentallGreenOak and Highgate & Amendments to its Corporate Credit Facility
American Hotel Income Properties REIT LP Announces US$50 Million Strategic Investment by ...
About this update from American Hotel Income Properties Reit Lp
[{"type":"text","content":"\n \n \n \n American Hotel Income Properties REIT LP Announces US$50 Million Strategic Investment by BentallGreenOak and Highgate & Amendments to its Corporate Credit Facility\n \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 \n \n \n \n \n American Hotel Income Properties REIT LP Announces US$50 Million Strategic Investment by BentallGreenOak and Highgate & Amendments to its Corporate Credit Facility\n \n \n Canada NewsWire\n \n \n \n \n \n \n Institutional Preferred Equity Stock offering to BentallGreenOak and\n \n Highgate\n \n \n \n \n \n Enhances AHIP's liquidity, reduces leverage and positions Company for growth opportunities\n \n \n \n \n Extension of waivers and covenants on corporate credit facility\n \n \n \n \n \n All amounts in U.S. dollars unless otherwise noted\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 28, 2021\n \n /CNW/ - American Hotel Income Properties REIT LP (\"\n \n AHIP\n \n \" or the \"\n \n Company\n \n \") (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.U) is pleased to announce that BentallGreenOak Real Estate Advisors LP (\"\n \n BentallGreenOak\n \n \") and Highgate Capital Investments, LP (\"\n \n \n Highgate\n \n \n \") through HCI-BGO Victoria JV LP (the \"\n \n Investor\n \n \"), a joint venture limited partnership, have made an aggregate\n \n $50 million\n \n strategic investment (the \"\n \n Investment\n \n \") in AHIP and its subsidiary, American Hotel Income Properties REIT Inc., (\"\n \n AHIP REIT\n \n \"), through the issuance of newly-created Series C preferred equity stock of AHIP REIT (the \"\n \n Preferred Stock\n \n \") and warrants to acquire Units of AHIP (\"\n \n Warrants\n \n \"), on a private placement basis.  As part of the Investment, the Investor has nominated two seasoned investment and industry professionals to AHIP's Board of Directors (\"\n \n Board\n \n \").\n \n \n The Investment provides several immediate strategic benefits to AHIP:\n \n \n \n \n Validation of AHIP's Business:\n \n The Investment demonstrates the strength of AHIP's premium branded select-service hotel portfolio and asset management platform, and hig...