VANCOUVER, April 19, 2013 /CNW/ - American Hotel Income Properties REIT LP ("AHIP") (TSX: 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 cash distribution of Cdn$0.075 per limited partnership unit
("Unit") of AHIP for the period of April 1, 2013 to April 30, 2013,
which is equal to Cdn$0.90 per Unit on an annualized basis. The
distribution will be paid on May 15, 2013 to unitholders of record on
April 30, 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 Management's
Discussion and Analysis dated March 28, 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 is a limited partnership formed under the Limited Partnership Act
(Ontario) to invest in hotel real estate properties located
substantially in the United States and engaged primarily in the
railroad employee accommodation, transportation, and contract-focused
lodging sectors. 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