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ARA H-Trust obtains US$75m in loans to fund purchase of US hotels

ARA US Hospitality Trust (ARA H-Trust) has taken out US$75 million in unsecured loans to partially finance its US$84.5 million acquisition of three Marriott-branded hotels in the US.

The facilities comprise a US$66 million term loan and a US$9 million revolving credit facility, ARA H-Trust said in a regulatory filing on Friday, without disclosing the identities of the lenders. 

Stapled securities in ARA H-Trust closed at 87 US cents on Thursday, up 0.6 per cent, or 0.5 cent. 

ARA H-Trust is a Singapore-based stapled group comprising ARA US Hospitality Property Trust and ARA US Hospitality Management Trust.

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Separately, earlier this week, ARA Asset Management, which manages the trust, said it had entered into a strategic transaction with Logos Group to set up a logistics real estate platform in Asia-Pacific.