Ashford Hospitality ( (AHT) ) has issued an announcement.
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Ashford Hospitality Trust, Inc. has announced a definitive agreement to sell the Courtyard Boston Downtown for $123 million, translating to $390,500 per room. Expected to close in January 2025, this transaction offers an attractive 5.9% capitalization rate on net operating income, enhancing the company’s financial position by reducing debt and saving on capital expenditures. Despite uncertainties in closing, the sale reflects positive momentum in the market.
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