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Hospitality Properties Trust to acquire Spirit MTA REIT assets for $2.4B

Hospitality Properties Trust agreed to acquire a net lease portfolio from Spirit MTA REIT for $2.4 billion in cash, excluding transaction costs.

The portfolio comprises 774 service-oriented retail properties leased to tenants from 22 different industries.

The transaction, expected to close in the third quarter, is subject to approval by Spirit MTA REIT's shareholders and other customary conditions.

More details to follow...