Summit Hotel Properties (INN) “announced that it is under contract to acquire the 250-guestroom Hampton Inn Boston – Logan Airport and the 149-guestroom Hilton Garden Inn Tysons Corner for a combined purchase price of $96.0 million, or $241,000 per key. The purchase price represents an 8.8% capitalization rate based on forecasted 2024 net operating income and no meaningful capital expenditures are planned prior to the fourth quarter of 2026.”
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on INN:
- Lodging REIT sector should rally after Bloomberg report on Sunstone, says Stifel
- Summit Hotel Properties Reports Solid Q3 2024 Results
- Summit Hotel Properties reports Q3 adjusted AFFO 22c, consensus 20c
- Summit Hotel Properties narrows FY24 AFFO view to 92c-98c from FFO 91c-99c
- INN Upcoming Earnings Report: What to Expect?