The board of American Hospitality Properties REIT Inc., a Regulation A real estate investment trust sponsored by Phoenix American Hospitality, has declared a $0.22 per share special cash dividend. The dividend will be paid on August 7, 2020 to stockholders of record as of July 31, 2020.
Phoenix American Hospitality, a Dallas-based opportunistic hotel fund manager, launched the $50 million REIT in August 2019.
“This dividend is intended to provide our stockholders with an initial return on their investment while we continue to raise capital that we expect to use to acquire hospitality assets,” said
W.L “Perch” Nelson, chairman and chief executive officer of American Hospitality REIT.
In June 2019, Phoenix American Hospitality closed its $50 million Reg D offering, American Hospitality Properties Fund III LLC, which funded the purchase of 17 upper midscale and upscale select-service hotels.
American Hospitality Properties REIT invests in limited and upscale select-service hotels in the United States. Shares are priced at $10.00 each, and the company disclosed that it has raised $4.3 million in investor equity.