FelCor Agrees to Sell Embassy Suites Hotel in Anaheim
18 Julho 2012 - 4:38PM
Business Wire
FelCor Lodging Trust Incorporated (NYSE: FCH) today announced
that it has agreed to sell the 222-room Embassy Suites –
Anaheim-North hotel for $25.5 million. Urban Common, the purchaser,
has made a $1.3 million hard money deposit toward the purchase
price. The sale is expected to close in late August. FelCor will
use the net proceeds to repay a portion of the $88 million balance
on the CMBS loan that matures in 2013.
As part of its long-term portfolio repositioning strategy, which
includes the sale of 39 non-strategic hotels, FelCor is currently
marketing 10 hotels, including the hotel announced today. Including
this sale, FelCor will have sold 16 of the 25 hotels that it has
brought to market since December 2010.
About FelCor
FelCor, a real estate investment trust, owns 70 primarily
upper-upscale, full-service hotels that are located in major and
resort markets throughout 22 states. FelCor partners with leading
hotel companies to operate its diversified portfolio of hotels,
which are flagged under globally recognized names such as,
Doubletree®, Embassy Suites®, Fairmont®, Hilton®, Marriott®,
Renaissance®, Sheraton®, Westin® and Holiday Inn®, and premier
independent hotels in New York. Additional information can be found
on the Company's Web site at www.felcor.com.
With the exception of historical information, the matters
discussed in this news release include “forward-looking statements”
within the meaning of the federal securities laws that are
qualified by cautionary statements herein and in FelCor’s filings
with the Securities and Exchange Commission. We undertake no
obligation to update any forward-looking statement to conform the
statement to actual results or changes in our expectations.
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