Supertel buys 27 hotels

07/23/2007 | Hotel Interactive

Supertel Hospitality, in a three-part financing deal with GE Capital Solutions, Franchise Finance, has purchased 27 hotels. In the first phase of the financing, Supertel received $21.3 million to acquire seven southeastern properties, and the second stage of financing included $15.6 million for five hotels in as many states. The final portion of the $75 million financing arrangement included $36.3 million for the acquisition of 15 Masters Inn hotels.

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