Supertel Hospitality,
Inc. SPPR, a real estate investment trust (REIT) which
currently owns 97 hotels in 23 states, today announced that it closed
on the sale of a 49 room Super 8 hotel in El Dorado, Kansas on April
20, 2012, at a sale price of $1.625 million. The hotel was developed
by Supertel in January 1992 and was no longer classified as a core
asset of the company, primarily due to size and age. The associated
mortgage debt of $840,000 was fully retired with excess proceeds
being applied to general corporate purposes.
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