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AUSTIN, Texas–(BUSINESS WIRE)–Summit Auberge Properties, Inc. (NYSE:INN) (the “Company”) today appear that it has two auberge properties, absolute an accumulated of 421 guestrooms, beneath arrangement to acquire.

The Aggregation appear that it has entered into a absolute acceding to admission the 210-guestroom DoubleTree by Hilton amid in San Francisco, Calif. for a acquirement amount of about $39.0 million. The Aggregation expects to apparatus about $4.1 actor in basic improvements to the acreage above-mentioned to anniversary 2014 and anticipates an estimated advanced assets amount in the ambit of 8.5 percent to 9.5 percent based on management’s accepted appraisal of the Hotel’s 2015 counterbalanced net operating income.

The auberge was congenital in 2000 and is ability an all-encompassing repositioning and rebranding, converting it from a Radisson to a DoubleTree by Hilton. Above-mentioned to acquisition, the agent will complete a allocation of the about-face and bear the acreage with a DoubleTree by Hilton flag. The Aggregation will arrange the added basic to complete the repositioning above-mentioned to anniversary 2014.

“We are captivated to aggrandize our San Francisco attendance with the afresh repositioned DoubleTree by Hilton,” said Aggregation President and CEO Dan Hansen. “We see able upside abeyant in this anew rebranded property, amid in a top bazaar with assorted appeal generators, including both an aing abject of accumulated appeal as able-bod

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