Ashford Hospitality Trust announced the sale of the 102-room SpringHill Suites Jacksonville in Jacksonville, Florida for $11.2 million.
That price works out to be $109,000 per key. The sales price represents a trailing twelve-month cap rate of 5.9% on net operating income. The deal had a 14.3x Hotel EBITDA multiple.
Real Estate 2020 Building the Future (a report from PwC) looks at the key trends in the commercial real estate market for 2020 and beyond.
American Hotel Income Properties REIT acquired a portfolio of 12 well-maintained Premium Branded hotels. The deal for the 12 hotels, totaling 1,203 guestrooms, is $191 million.
WeWork bonds hit new lows this week after a financial review of the company MarketAxess.
The California State Teachers’ Retirement System (CalSTRS) announced its latest asset allocation shifts this week. The $242 billion dollar scheme is shifting assets away from traditional equities.