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Article: Equity Inns to Purchase Two Hotels in Texas.
- Article from:
- Business Wire
- Article date:
- December 11, 2006
CopyrightCOPYRIGHT 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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-Adds Marriott and Hilton Branded Hotels in Strong Suburban Austin Market-
GERMANTOWN, Tenn. -- Equity Inns, Inc. (NYSE: ENN), the third largest hotel real estate investment trust (REIT), announced today that the Company executed an agreement to purchase the 104-room SpringHill Suites by Marriott and the 122-room Hilton Garden Inn in the Austin, Texas suburb of Round Rock for a total of $16.3 million, or $72,000 per key from partnerships controlled by LinGate Hospitality. The total purchase price equates to an average cap rate of 9.7%, based upon trailing twelve months net operating income.
The hotels, which are six years old and not encumbered with any ...
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Article: Equity Inns Enters Into Strategic Alliance With ...
PR Newswire;
January 20, 1998 ;
700+ words
... ... Tenn., Jan. 20 /PRNewswire/ -- Equity Inns, Inc. (NYSE: ENN) today announced ... Under the terms of the agreement, Equity Inns will have the right of first offer through ... S. Franchise will offer to sell to Equity Inns not fewer than 12 hotels each calendar ...
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