Printer Friendly

Deal snapshot: ASHFORD PRIME CLOSES USD 96.5M ACQUISITION OF HOTEL YOUNTVILLE.

MANews-(C)2009-2017

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.

Country: USA

Sector: Hotels/Restaurants/Casinos/Catering

Target: Hotel Yountville in Yountville, California

Buyer: Ashford Hospitality Prime

Vendor:

Deal size in USD: 96.5m

Type: LBO

Financing: Cash

Status: Closed

Buyer advisor: , ,

Comment:

COPYRIGHT 2017 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Geographic Code:1U9CA
Date:May 15, 2017
Words:126
Previous Article:Deal snapshot: WEST VIRGINIA'S DOOLIN SECURITY SAVINGS BANK TO COMBINE WITH FIRST MUTUAL HOLDING'S BELPRE SAVINGS.
Next Article:Deal snapshot: BENCHMARK SENIOR LIVING, FARALLON ACQUIRE MASSACHUSETTS, US CARE RETIREMENT COMMUNITY.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters