Vancouver's AHIP REIT Sells Oklahoma Hotel, Citing Market Weakness
Vancouver-based American Hotel Income Properties REIT has sold the 77-room Country Inn & Suites by Carlson hotel in Norman, Okla., for US$4.5M. The property was acquired in 2015 as part of a larger portfolio purchase. Citing continued weakness in the Oklahoma market, AHIP said it will redeploy the hotel sale proceeds to more productive uses. With the disposition of the Norman property, AHIP — whose growth strategy we spotlighted here — now owns 95 hotels across the U.S. with 9,383 guest rooms.