Hospitality Properties Trust Agrees To Purchase And Leaseback 30 Travel Centers For Approximately $397 Million
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Brean Capital Reiterates Buy Following Travelcenters Of America Llc (TA) Sale/Leaseback Announcement
June 2, 2015 11:11 AM EDTBrean Capital reiterates a Buy rating and $21.00 price target on TravelCenters of America (NYSE: TA) following announced sale/leaseback transaction. The transaction will yield $397MM.
Analyst Bryan Maher commented, "TA announced a significant sale/leaseback transaction yielding $397MM. We believe this transaction will... More
Hospitality Properties Trust (HPT) Enters ~$400M Sale, Leaseback Agreement with TravelCenters of America (TA)
June 2, 2015 6:28 AM EDTHospitality Properties Trust (NYSE: HPT) announced that it has entered agreements with TravelCenters of America LLC (NYSE: TA) to acquire and leaseback 30 travel centers for a total purchase price of approximately $397 million. The 30 sites include 11 sites which HPT currently owns and where HPT will acquire some or all of the improvements, land and ancillary property owned by TA. These agreements also provide that HPT will sell five travel centers to TA for approximately $45 million that will result in a gain on sale to HPT of approximately $10... More
