Braemar hotels & resorts announces agreement to acquire the mr. c beverly hills hotel

Dallas, june 1, 2021 /prnewswire/ -- acquisition highlights: luxury hotel ideally located in close proximity to high-end shopping on rodeo drive and business demand from century city and culver city. the company will issue 2.5 million units in its operating partnership ("op units") and 500,000 warrants to the seller as part of the consideration for this acquisition, in addition to $30 million of cash (the majority of which will be used to paydown existing debt).
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