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Article: Equity Inns to Purchase Kentucky Hotels.
- Article from:
- Business Wire
- Article date:
- October 10, 2006
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Copyright informationCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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-Buys Four Premium Branded Marriott Hotels for $53.8 Million-
GERMANTOWN, Tenn. -- Equity Inns, Inc. (NYSE: ENN), the third largest hotel real estate investment trust (REIT), today announced that the Company has signed a contract to purchase four Kentucky hotels with a total of 429 rooms from Musselman Hotels, LLC for $53.8 million. The purchase price represents a capitalization rate of approximately 10 based upon trailing twelve-month net operating income and includes the assumption of $27 million of existing debt. Musselman Hotels will retain management under a three year, performance based management contract.
The four properties include three hotels in the Lexington ...
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Article: Equity Inns Completes Purchase of Three Hotels.
Business Wire;
May 3, 2005 ;
356 words
...GERMANTOWN, Tenn. -- Equity Inns, Inc. (NYSE: ENN), a hotel real...hotels in two separate transactions. Equity Inns completed the purchase of two hotels...Green, Kentucky, for $6.9 million. Equity Inns expects both transactions to have...
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