Search
 

Ashford's Disposition Nabs $69M Buyer for Trio

DALLAS-The REIT, pruning a $2.4-billion buy, reports $35.2 million of net gain to date. Next will be Residence Inns, totaling 472 keys, in Georgia, California and Missouri.

By Connie Gore | Updated on October 08, 2007

DALLAS-After five months of pruning its $2.4-billion buy, Ashford Hospitality Trust Inc. is reporting a $35.2-million net gain from sales to date. As part of the update, the local REIT says it’s holding firm contracts to sell three Residence Inns for $68.5 million.

Ashford’s most recent sale was the 205-key Hilton Birmingham Perimeter Park at 8 Perimeter Park S. in Birmingham, AL to Noble Investment Group of Atlanta, one of three properties sold in recent months for a combined $35 million, according to the REIT. In the third quarter, Ashford sold the 72-room Hampton Inn at 750 Flint Ridge Rd. in Horse Cave, KY and 137-key Doubletree Guest Suites at 300 Prestige Place in Dayton/Miamisburg, OH.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.