Braemar Hotels & Resorts Announces Agreement To Acquire The Mr. C Beverly Hills Hotel
share this article Photo: Braemar Hotels & Resorts Inc.
Luxury hotel ideally located in close proximity to high-end shopping on Rodeo Drive and business demand from Century City and Culver City.
The Company will issue 2.5 million units in its Operating Partnership ( OP units ) and 500,000 warrants to the seller as part of the consideration for this acquisition, in addition to $30 million of cash (the majority of which will be used to paydown existing debt).
Attractive price per key of $474,000 for fee simple ownership of a luxury hotel.
Revenue per available room (RevPAR) of $251.14 for the 12 months ended December 31, 2019.
Academy Awards Fast Facts - Local News 8
localnews8.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from localnews8.com Daily Mail and Mail on Sunday newspapers.
Academy Awards Fast Facts
ktvz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ktvz.com Daily Mail and Mail on Sunday newspapers.