{"id":1004372318,"date":"2019-12-01T23:57:55","date_gmt":"2019-12-02T07:57:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004372318"},"modified":"2019-12-03T11:23:09","modified_gmt":"2019-12-03T19:23:09","slug":"ahip-to-acquire-191m-hospitality-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ahip-to-acquire-191m-hospitality-portfolio\/","title":{"rendered":"AHIP to Acquire $191M Hospitality Portfolio"},"content":{"rendered":"
\"\"<\/a>

The largest hotel in the portfolio, the 120-key Courtyard St. Paul Woodbury in Woodbury, Minn. Image via Google Street View<\/i><\/p><\/div>\n

American Hotel Income Properties has reached an agreement to purchase 12 premium-branded hotels for $191 million. The portfolio totals 1,203 guestrooms across Texas and the Midwest. The seller is Aimbridge Hospitality, according to public records.<\/p>\n

AHIP plans to finance the acquisition using the net proceeds from the sale of its Economy Lodging Portfolio along with a $105 million loan. The mortgage matures in five years and will bear interest at less than 4 percent.<\/p>\n

The capitalization rate on the hotels is approximately 8 percent. AHIP will buy the assets at nearly $159,000 per guestroom. The deal is expected to close before the end of the year, bringing the company\u2019s portfolio to 8,887 keys in 79 properties.<\/p>\n

Aimbridge will continue managing the properties, following the close of the deal. In September, the firm announced plans to merge<\/a> with Interstate Hotels by the end of the year.<\/p>\n

The portfolio’s assets are located in Texas, Minnesota, Pennsylvania, Michigan and North Dakota. The 12 acquisitions include six Marriot- and five Hilton-branded properties, as well as one IHG hotel. All the buildings were constructed in the past five years and require no major improvements.<\/p>\n

The transaction comes on the heels of AHIP\u2019s sale of its Economy Lodging portfolio to VCM Ltd., an affiliate of Vukola Capital Management. The $215.5 million portfolio sale closed in November and included 45 hotels nationwide. The company plans to focus on growing its premium-branded select-service portfolio over the long term.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company will finance the acquisition with the proceeds of a recent $215 million disposition and a new loan.<\/p>\n","protected":false},"author":867,"featured_media":1004372354,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,21783,13,21742],"tags":[35456,33229,32805,32848,33877],"class_list":["post-1004372318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-investment","category-midwest","category-latest","tag-aimbridge-hospitality","tag-american-hotel-income-properties","tag-hilton","tag-intercontinental-hotels-group","tag-marriott"],"acf":[],"yoast_head":"\nAHIP to Acquire $191M Hospitality Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ahip-to-acquire-191m-hospitality-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AHIP to Acquire $191M Hospitality Portfolio\" \/>\n<meta property=\"og:description\" content=\"The company will finance the acquisition with the proceeds of a recent $215 million disposition and a new loan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ahip-to-acquire-191m-hospitality-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-02T07:57:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-12-03T19:23:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Courtyard-St.-Paul-Woodbury.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"799\" \/>\n\t<meta property=\"og:image:height\" content=\"619\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ahip-to-acquire-191m-hospitality-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/ahip-to-acquire-191m-hospitality-portfolio\/\",\"name\":\"AHIP to Acquire $191M Hospitality Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ahip-to-acquire-191m-hospitality-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ahip-to-acquire-191m-hospitality-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Courtyard-St.-Paul-Woodbury.jpg\",\"datePublished\":\"2019-12-02T07:57:55+00:00\",\"dateModified\":\"2019-12-03T19:23:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/caac04e9f88552f7c898ba456c2498d8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ahip-to-acquire-191m-hospitality-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/ahip-to-acquire-191m-hospitality-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ahip-to-acquire-191m-hospitality-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Courtyard-St.-Paul-Woodbury.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Courtyard-St.-Paul-Woodbury.jpg\",\"width\":799,\"height\":619,\"caption\":\"The largest hotel in the portfolio, the 120-key Courtyard St. Paul Woodbury. 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