Deal Details
Sale to Vukota Capital Management, Ltd.
Summary
Baird served as co-financial advisor to American Hotel Income Properties on this transaction
About
American Hotel Income Properties REIT LP (“AHIP” or the “Company”) (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.U) recently announced that it has completed the sale of its Economy Lodging portfolio consisting of 45 hotel properties through certain of its subsidiaries to an affiliate of Vukota Capital Management Ltd. (“VCM”) for US $215.5 million (excluding certain closing and post-closing adjustments).AHIP is a limited partnership formed to invest in hotel real estate properties located in the United States. The Company is actively engaged in growing its portfolio of premium branded, select-service hotels in larger secondary markets that have diverse and stable demand. AHIP hotels operate under brands affiliated with Marriott, Hilton and IHG through license agreements. The Company's long-term objectives are to build on its proven track record of successful investment, deliver reliable and consistent US dollar denominated distributions to unitholders and generate value through the continued growth of its diversified hotel portfolio. AHIP is headquartered in Vancouver, Canada.
Vukota Capital Management Ltd. is an investment firm founded in 2010 which focuses on alternative investments. The firm and its affiliated companies manage over US $900 million on behalf of institutions, family offices and high-net worth individuals. VCM's investment activities are focused on real estate private equity, public market investments and private equity. VCM is headquartered in Greenwood Village, Colorado.
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- Date
- December 2019
- Company
- American Hotel Income Properties REIT LP
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
- Acquiror Geography
- North America
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