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American Hotel Income Properties Strikes Deal to Buy 12 Hotels for $191M

The company has also closed the sale of its economy lodging portfolio for $215.5 million.

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VANCOUVER—American Hotel Income Properties REIT has struck a deal to acquire a portfolio of 12 premium hotels for $191 million, or $158,800 per key. The seller was not announced.

The 12 hotels, totaling 1,203 guestrooms, are located across the US and will significantly strengthen the Canadian REIT’s footprint in Texas and the Midwest. The properties have all been constructed within the past five years, are stabilized and have minimal brand mandated property improvement plans. The transaction is expected to close during December 2019.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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