Temple Hotels Inc. (“Temple”) (TSX: TPH) announced today that it has agreed to acquire the Holiday I

Temple Hotels Inc. ("Temple") (TSX: TPH) announced today that it has agreed to acquire the Holiday Inn Express Hotel Suites Ottawa West – Nepean, for $19.5 million, subject to the customary closing adjustments. The property is a limited-service hotel located at 2055 Robertson Road in the west Ottawa, Ontario neighbourhood of Nepean.
Based on the 2014 forecasted net income, the acquisition price of $19.5 million represents an estimated capitalization rate of 10.2%. maryland cruising guide The acquisition maryland cruising guide will be financed with a first mortgage loan in the amount of $14.265 million and the balance in cash. The first mortgage loan is expected to bear interest at a rate of 5.0% for a five-year term, with a 25-year amortization. The acquisition maryland cruising guide is expected to close on October 1, 2013.
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