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Farris LLP: Vancouver's Law Firm

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01 March 2013

Farris represents American Hotel Income Properties REIT LP in IPO and Acquisition

March 1, 2013 -  A Farris team, led by Partner Brian R. Canfield, represented American Hotel Income Properties REIT LP (AHIP) in its initial public offering (IPO) of 9,570,000 limited partnership units on the Toronto Stock Exchange. The IPO completed on February 20, 2013, and the exercise of the over-allotment option by the underwriters closed on March 1, 2013, raising total gross proceeds of C$100.1 million.

Most of the net proceeds of the offering were used to indirectly acquire 32 hotel properties located in 19 U.S. states, primarily operated under the “Oak Tree Inn” banner.  Farris also represented AHIP in connection with the acquisition of this hotel portfolio.

Besides Mr. Canfield, the Farris team included Duncan Reid, Kwang Lim, Matthew Smith and Robert Veitch.

A copy of AHIP’s detailed press release can be found here.

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