Brean Capital Reiterates Buy Following Travelcenters Of America Llc (TA) Sale/Leaseback Announcement
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Hospitality Properties Trust Agrees To Purchase And Leaseback 30 Travel Centers For Approximately $397 Million
June 1, 2015 7:39 PM EDTHPT Also To Sell Five Travel Centers for Approximately $45 Million And Realize A Gain Of Approximately $10 Million
Net Cash Rental Income To Increase By Approximately $30.2 Million/Year Plus Future Percentage Rents
NEWTON, Mass.--(BUSINESS WIRE)-- Hospitality Properties Trust (NYSE: HPT) today 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... More
TravelCenters of America Announces Sale Leaseback Transactions for $397 Million
June 1, 2015 7:34 PM EDTExpected Net Proceeds of $352 Million To Fund TAs Continuing Expansion Program
Expected Gains on Sales Of $137 Million To Be Realized
WESTLAKE, Ohio--(BUSINESS WIRE)-- TravelCenters of America LLC (NYSE: TA) today announced that it has entered agreements with Hospitality Properties Trust (NYSE: HPT) for sale leaseback transactions for 30 travel centers totaling approximately $397 million. Under these agreements TA also will purchase from HPT five travel centers now leased by TA and subleased to TA franchisees for approximately $45 million. The net... More
TravelCenters Of America Holds Customer Appreciation Event at Newly Remodeled Location in London, Ohio
June 1, 2015 5:49 PM EDTWESTLAKE, Ohio--(BUSINESS WIRE)-- TravelCenters of America LLC (TravelCenters), operator of the TA® and Petro Stopping Centers® travel center brands, will hold a customer appreciation event at its TA site in London, OH, located at I-70, Exit 79 (940 US RT 42 NE). The event will take place on June 4 from 5-8 p.m.
The newly remodeled, always-open, TA London travel center location delivers bright, organized store offers creating an easy and appealing way to shop. Amenities include a remodeled travel store containing a relaxation area with phone charging stations; updated restrooms and showers that are Voted Best year after... More
