American Hotel Income Properties REIT LP Sells Three Hotels For $41.2 Million In Pennsylvania And Maryland

Three hotels located at 2031 Avenue C, 7035 Arundel Mills Circle, and 7021 Arundel Mills Circle, situated in the markets of Bethlehem, PA, and Hanover, MD, were sold. The total sale price reached $41,200,000, with the assets comprising 353 keys and a price per key of $116,714. The average cap rate for the transaction was 6.9%.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $41,200,000
• Keys: 353
• Price Per Key: $116,714
• Average Cap Rate: 6.9%
• Seller: American Hotel Income Properties REIT LP

American Hotel Income Properties REIT LP is actively offloading assets, with an additional eight hotels currently under contract for $32.3 million. This strategy aims to strengthen the company's balance sheet through sales and refinancing.