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Stock Market & Financial Investment News

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December 17, 2013
08:04 EDTHTHersha Hospitality to purchase two Autograph Collection hotels in Miami
Hersha Hospitality Trust has entered into a definitive agreement to purchase two Autograph Collection hotels in Miamiís South Beach. The purchase price for the South Beach Autograph Portfolio, which totals 145 rooms, is $50.95M. The Company anticipates that the purchase price for the South Beach Autograph Portfolio reflects a full-year 2014 economic capitalization rate of approximately 6.8% and an 8.5% - 9.0% capitalization rate on stabilized earnings.
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