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SOURCE Carey Watermark Investors Incorporated
Hampton Inn & Suites and Homewood Suites by Hilton property added to portfolio
NEW YORK, June 26, 2014 /PRNewswire/ -- Carey Watermark Investors Incorporated (CWI), a non-traded real estate investment trust (REIT) focused on investing in lodging properties, announced that it has acquired a 302-room, dual-brand select-service hotel, located in Denver's Central Business District. CWI's total investment in the property is approximately $85 million.
Michael Medzigian, Chief Executive Officer of CWI: "The acquisition of the Hampton Inn & Suites/Homewood Suites by Hilton® Denver Downtown/Convention Center represented the opportunity to invest in a newly redeveloped, quality dual-branded hotel with strong brand affiliations in a strong domestic market. Given these attributes, we believe that the investment will be a solid cash flow-generating addition to our growing portfolio."
Carey Watermark Investors
Carey Watermark Investors Incorporated (CWI) is a publicly registered real estate investment trust (REIT) that was formed to make investments primarily in the lodging and lodging-related sectors. Affiliates of W. P. Carey Inc. and Watermark Capital Partners advise CWI and manage its overall portfolio. www.careywatermark.com
This press release contains forward-looking statements within the meaning of the Federal securities laws. The statements of Mr. Medzigian are examples of forward looking statements. A number of factors could cause actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the risks related to CWI's public offering; the general economic climate; the supply of and demand for hotels; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of hotels. For further information on factors that could impact CWI, reference is made to its filings with the Securities and Exchange Commission.
W. P. Carey Inc.
Ross & Lawrence
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