Arlington Hospitality owns 52 AmeriHost properties and six other assets, totaling 4,221 rooms in 15 states. It also is building additional AmeriHost Inn & Suites hotels, using proceeds from sales of older properties to help finance the building. The company has sold seven hotels this year, including three in June, with another five under contract. Those sales are expected to close later this year.
However, the company also operates 21 properties owned by PMC Commercial Trust, paying rent under a master lease. Arlington Hospitality is trying to restructure that master lease, and PMC Commercial Trust already has deferred $349,000 in lease payments due in the second quarter. PMC Commercial Trust recently agreed to defer another $85,000 due this month, but Arlington Hospitality must begin repaying that debt in August.
Locally, Houlihan Lokey Howard & Zukin advised steel producer Arcelor International America on its $55-million sale of its J&F Steel subsidiary to Chicago-based Ryerson Tull, Inc.
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