CDLHT acquires Hotel Indigo Exeter and retail units for $33.2m

Its retail units have existing leases which will continue until 2033.

CDL Hospitality Trusts (CDLHT), through its indirect wholly-owned subsidiaries, acquired Hotel Indigo Exeter and its two retail units in the United Kingdom for $33.2m (£19.4m).

CDHL acquired the assets from Hotel Exe Limited, Plaza Properties (Holdings) Limited, and Plaza Retail (Holdings) Limited.

The business trust expects to complete the acquisition once relevant conditions are met.

Hotel Indigo Exeter is a 104-room  upscale lifestyle boutique hotel with two retail units.

Its retail units have existing leases, which will continue until 2033 on a fixed rent basis with tenant break options in June 2028 and March 2029, respectively.