The managers of the trust are entitled to a divestment fee of around US$38,500 or 0.5% of the sale consideration. The proceeds will go towards the trust’s existing borrowings.
ARA US Hospitality Trust has completed the sale of Hyatt Place Pittsburgh Airport for US$7.7 million ($10.3 million).
The trust had entered into a conditional purchase and sale agreement to sell the property to Bacall Companies on Nov 27, 2023.
