ARA US Hospitality Trust (SGX:XZL) entered into conditional purchase and sale agreement to acquire Portfolio of Three Marriott-Branded Upscale Select-Service Hotels in the United States from Concord Hospitality Enterprises Company, LLC for $84.5 million on November 5, 2019. ARA US Hospitality will acquire AC by Marriott Raleigh North Hills, Courtyard San Antonio at The Rim and Residence Inn San Antonio at The Rim from Concord Hospitality. Under the terms of consideration, $1 million has been paid by the buyer to the seller as initial deposit, in addition $1 million will be paid as additional deposit to the seller if the buyer does not terminate the agreement prior to the due diligence period, and these deposits will be applied towards the purchase consideration payable at closing. The transaction will be funded using debt and internal cash resources. As of December 14, 2019, the ARA US Hospitality Trust has taken out $75 million, which includes $66 million of term facility and $9 million of revolving credit facility to partially finance this acquisition. The Managers wish to announce that the balance of $16.882 million (which is the equivalent of the sum of $6.520 million and $10.362 million) has been used to partially fund the acquisition. As of January 17, 2020, the Managers have fully utilized all the net proceeds from the initial public offering. Post the transaction, the portfolio of hotels will continue to be managed by the seller’s operational arm. The transaction is subject to completion of due diligence. The transaction is expected to be accretive to the stapled security holders of ARA US Hospitality on a distribution per stapled security basis. ARA US Hospitality Trust (SGX:XZL) completed the acquisition of portfolio of three Marriott-Branded Upscale Select-Service Hotels in the United States from Concord Hospitality Enterprises Company, LLC on January 17, 2020. In connection with the acquisition an independent valuation on the portfolio was commissioned by the managers and DBS Trustee Limited in accordance with the requirements of appendix 6 of the Code on Collective Investment Schemes issued by the Monetary Authority of Singapore. The transaction was completed following the satisfactory completion of due diligence and agreement of final purchase consideration $84 million.