ARA Hospitality Buys Service Residence Property in Colorado Springs

News about ARA US Hospitality Trust

ARA US Hospitality Trust is announcing the acquisition of service residence Home2 Suites by Hilton Colorado Springs South for a total cost of about US$30.0 million:

The Property is a recently-built select-service, extended-stay hotel with 119 rooms located at 1235 Tenderfoot Hill Road, Colorado Springs, Colorado 80906. Colorado Springs is at the center of the Rocky Mountain recreation activities and is a popular tourist attraction. In addition, it is a strong base for prominent U.S. aerospace and military establishments as well as higher education institutions. The growing sports and high-technology industries also offer strong support to the expanding sub-market.

The purchase is expected to be DPU accretive.

ARA US Hospitality Trust
Price0.335 USD
NAV0.770 USD
Yield (4 quarters)9.12%
Gearing40.9%