May 4, 2017 / 12:55 PM / 3 months ago

BRIEF-CDL Hospitality Trusts says unit entered into share purchase agreement

May 4 (Reuters) - CDL Hospitality Trusts:

* Acquisition of a 5-star luxury hotel which is located in proximity to heart of Manchester city centre

* Property price of £52.5 million with a net property income yield of 7.3% for fy 2016

* Acquisition will be fully funded initially by GBP-denominated debt by HBT

* Acquisition to be DPS accretive of 2.7%

* Upon completion of acquisition, target continues to hold and operate property

* Unit entered into share purchase agreement & acquired 100% of issued share capital of Lowry hotel Source text for Eikon: Further company coverage:

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