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Stock Market & Financial Investment News

News Breaks
July 15, 2014
08:04 EDTAHTAshford Hospitality acquires Fremont Marriot Silicon Valley
Ashford Hospitality announced that it has signed a definitive agreement to acquire the 357-room Fremont Marriott Silicon Valley hotel. The acquisition is expected to close within the next 30 days. Upon closing, the property will be managed by Remington Lodging. The company intends to finance the property with approximately $37.5M of non-recourse mortgage debt.
News For AHT From The Last 14 Days
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March 2, 2015
10:00 EDTAHTOn The Fly: Analyst Downgrade Summary
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06:15 EDTAHTAshford Hospitality downgraded to Neutral from Outperform at Credit Suisse
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February 26, 2015
16:26 EDTAHTAshford Hospitality reports Q4 adjusted FFO 17c, consensus 13c
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08:20 EDTAHTAshford Hospitality completes acquisition of Marriott Memphis East for $43.5M
Ashford Hospitality (AHT) has completed the previously-announced acquisition of the 232-room Marriott (MAR) Memphis East hotel for total consideration of $43.5M in cash, or $187,500 per key. The company intends to finance the property with approximately $33.3M of non-recourse mortgage debt. On a forward 12-month basis, the purchase price represents an estimated cap rate of 8.6% on net operating income and an estimated 10.3x forward EBITDA multiple. The Marriott Memphis East is in excellent physical condition with virtually no capex needs as the hotel recently completed an extensive renovation.

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