American Hotel Income Properties REIT LP has purchased Lodging Enterprises LLC for an undisclosed amount.
Lodging Enterprises owns and operates 32 branded hotels in 19 states. The company also owns 24 diners, as well as the Oak Tree Inn and Penny’s Diners brands.
American Hotel Income is a Canadian real estate investment trust (REIT) formed to acquire hotel properties in the U.S. through its subsidiary Lodging Properties LLC. Terms of the deal were not disclosed.
Paul Hastings LLP was Lodging Enterprises legal counsel on the deal.