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Acquisitions
3 Months Ended
Mar. 31, 2019
Business Combinations [Abstract]  
Acquisitions

10. Acquisitions

 

On February 14, 2019, we acquired the fee simple interest in the 429-room 1 Hotel South Beach for a total purchase price of $610 million. Consideration included the issuance of $23 million of preferred OP units that are included in debt, as they are redeemable at the option of the holder, and $3 million of common OP units which are non-cash investing and financing activities.