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BRIEF-American Hotel Income Properties to acquire 18 hotel Northeastern U.S. portfolio for $407.4 mln
May 31, 2017 / 8:14 PM / 6 months ago

BRIEF-American Hotel Income Properties to acquire 18 hotel Northeastern U.S. portfolio for $407.4 mln

May 31 (Reuters) - American Hotel Income Properties Reit Lp :

* American Hotel Income Properties REIT lp to acquire 18 hotel Northeastern U.S. portfolio for us$407.4 million

* American Hotel Income Properties REIT lp- transaction is immediately accretive to AHIP’s adjusted funds from operations per unit

* American Hotel Income Properties REIT-‍expects to fund purchase price, using portion of net proceeds from offering , about US$236.2 million cmbs loan ​

* American Hotel Income Properties REIT Lp- hotels will be managed by AHIP’s exclusive hotel manager, one lodging management

* American Hotel Income Properties - ‍to sell on a bought deal basis 18.4 million limited partnership units of ahip at a price of CDN$10.35 per unit​

* American Hotel Income Properties - ‍transaction increases total guestroom count by over 23 pct​

* American Hotel Income Properties -‍to sell on bought deal basis $42.5 million of 5.00 pct convertible unsecured subordinated debentures due on June 30, 2022

* American Hotel Income Properties - ‍agreement with underwriters to sell 18.4 million units of AHIP at C$10.35 per unit Source text for Eikon: Further company coverage:

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