Ashford is currently in negotiations to sell the office structure. It will invest $5.7 million to renovate the hotel in the third quarter of the year. This was a cash transaction. The purchase of both properties equates to a trailing 12-month multiple of 7.6x and a yield of 13.2% in earnings before taxes, depreciation and amortization. Following the sale of the office property, Ashford expects to improve to a trailing 12-month EBTIDA multiple of below 6.5x and a yield of 15.5%.

The 12-month net income cap rate with inclusion of the office building is 11%. After the building sells, it will be 13%. According to Ashford, the hotel property's annual revenues are approximately $9 million. Remington Lodge & Hospitality will manage the facility.

Calling the hotel "an attractive investment with a substantial initial return, strong brand, and great location," Monty J. Bennett, Ashford's president and CEO, says, "This asset benefits form diverse demand generators, including a popular drive to a destination theme park (Sesame Street Place), regional mall (Oxford Valley Mall), hospital (Frankford Bucks), and surrounding business parks."