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BRIEF-Hersha Hospitality Trust acquires The Ritz-Carlton, Coconut Grove
February 22, 2017 / 9:30 PM / 9 months ago

BRIEF-Hersha Hospitality Trust acquires The Ritz-Carlton, Coconut Grove

Feb 22 (Reuters) - Hersha Hospitality Trust:

* Hersha Hospitality Trust acquires The Ritz-Carlton, Coconut Grove

* Hersha Hospitality Trust - deal for $36.0 million.

* Hersha Hospitality Trust - funded acquisition with proceeds from recent sale of Residence Inn Greenbelt, MD as part of a tax-deferred like-kind exchange

* Hersha Hospitality Trust says expects Ritz-Carlton, Coconut Grove to stabilize at an 8.0% - 8.5% yield on gross invested capital

* Says seller of Ritz-Carlton, Coconut Grove provided financing to company with an installment note for $3.5 million Source text for Eikon: Further company coverage:

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