VANCOUVER, March 19, 2013 /CNW/ - American Hotel Income Properties REIT LP ("AHIP") (Toronto Stock
Exchange: HOT.UN) announced today that the Board of Directors of
American Hotel Income Properties REIT (GP) Inc., the general partner of
AHIP, has approved the initial cash distribution of Cdn$0.096 per
limited partnership unit ("Unit") of AHIP for the period of February
20, 2013 (the closing of AHIP's initial public offering) to March 31,
2013. This distribution has been pro-rated and is equal to Cdn$0.075
per Unit on a monthly basis, or Cdn$0.90 per Unit on an annualized
basis. The distribution will be paid on April 15, 2013 to unitholders
of record on March 28, 2013. There are currently 10,405,000 Units
issued and outstanding.
The policy of AHIP is to pay cash distributions on or about the 15th day of each month to the unitholders of record on the last business day
of the preceding month.
Forward-Looking Information
This news release contains forward-looking information within the
meaning of applicable securities legislation, which reflects AHIP's
current expectations regarding future events. Forward-looking
information is identified by the use of terms and phrases such as
"anticipate", "believe", "could", "estimate", "expect", "intend",
"may", "plan", "predict", "project", "will", "would" and similar terms
and phrases and includes, but is not limited to, the amount of the
expected monthly cash distributions and annual yield for the Units and
the timing to pay the first cash distribution to unitholders,
Forward-looking information is based on a number of assumptions and is
subject to a number of risks and uncertainties, many of which are
beyond AHIP's control, that could cause actual results and events to
differ materially from those that are disclosed in, or implied by, such
forward-looking information. Such assumptions include, but are not
limited to, a reasonably stable North American economy and stock
market. Such risks and uncertainties include, but are not limited to,
the factors discussed under "Risk Factors" in AHIP`s prospectus dated
February 12, 2013. The forward-looking information contained herein is
made as of the date of this news release and, except as expressly
required by applicable law, AHIP assumes no obligation to publicly
update or revise such information,
About American Hotel Income Properties REIT LP
AHIP's long-term objectives are to: (i) generate stable and growing cash
distributions from hotel properties substantially in the US; (ii)
enhance the value of its assets and maximize the long-term value of the
hotel properties through active management; and (iii) expand its asset
base and increase its Adjusted Funds From Operations ("AFFO") per Unit
through an accretive acquisition program, participation in strategic
development opportunities and improvements to its properties through
targeted value-added capital expenditure programs.
Additional information relating to AHIP, including the final prospectus
and other public filings, is available on SEDAR at www.sedar.com and on AHIP's website at www.ahipreit.com.
SOURCE: American Hotel Income Properties REIT LP
