Deal snapshot: ASHFORD PRIME CLOSES USD 96.5M ACQUISITION OF HOTEL YOUNTVILLE.
US-based hotel REIT Ashford Hospitality Prime, Inc. (NYSE: AHP) has completed the acquisition of the 80-room Hotel Yountville in Yountville, California for USD 96.5m, or USD 1.2m per key, the firm said.
This deal was announced on 1 March 2017. Concurrent with the completion of the acquisition, the company has financed the hotel with a USD 51m non-recourse mortgage loan. This loan is interest only and provides for a floating interest rate of LIBOR + 2.55% with a five-year term. The property will be managed by Remington Lodging.
Target: Hotel Yountville in Yountville, California
Buyer: Ashford Hospitality Prime
Deal size in USD: 96.5m
Buyer advisor: , ,
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|Publication:||M & A Navigator|
|Date:||May 15, 2017|
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