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Real Estate Properties (Tables)

9 Months Ended

Sep. 30, 2018

Real Estate [Abstract]

Schedule of Purchase Price Allocation

Our allocation of the purchase price of each of these acquisitions based on the estimated fair value of the acquired assets and assumed liabilities is presented in the table below.



Acquisition Date		Location		Purchase Price				Land				Land Improvements				Building and Improvements				Furniture, Fixtures and Equipment
6/15/2018		Minneapolis, MN ⁽¹⁾		75,572				$	2,196			$	—			$	68,384			$	4,992
6/15/2018		Baton Rouge, LA ⁽²⁾		16,022				2,242				173				12,842				765
				$	91,594			$	4,438			$	173			$	81,226			$	5,757


(1)	On June 15, 2018, we acquired the 360 room Radisson Blu^® hotel in Minneapolis, MN for a purchase price of $75,572, including capitalized acquisition costs of $572. We added this hotel to our management agreement with Radisson Hospitality, Inc., or Radisson.


(2)	On June 15, 2018, we acquired the 117 suite Staybridge Suites^® at Louisiana State University in Baton Rouge, LA for a purchase price of $16,022 including capitalized acquisition costs of $272. We added this hotel to our management agreement with InterContinental Hotels Group, plc, or InterContinental.