July 13 (Reuters) - American Hotel Income Properties Reit Lp
HOT_u.TO
* American Hotel Income Properties REIT LP announces
agreement to acquire two embassy suites by Hilton Hotels for
US$57.6 million
* To acquire previously announced 2 embassy suites by Hilton
for aggregate purchase price of about $57.6 million
* Purchase price of about $57.6 million, excluding about
$5.7 million in brand mandated property improvement plans
* Will fund purchase price, including pips, using
combination of portion of proceeds from bought deal offering
* Acquisition was approved by independent members of board
of directors of Ahip's general partner
* Funding includes issuance to vendors of about $17.4
million in new Ahip units
* Funding includes existing $19 million Dallas mortgage, new
$13.5 million CMBS loan on Tempe property
Source text for Eikon: ID:nMKWGlZmDa
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