Supertel (SPPR) Sells Muscatine, IA Super 8 for $1.3M
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Supertel Hospitality, Inc. (NASDAQ: SPPR) today announced that it closed on the sale of a 63 room Super 8 hotel in Muscatine, Iowa on March 27, 2012, at a sale price of $1.3 million. The hotel no longer met the company's investment criteria primarily due to size and age. Net proceeds were used to reduce related mortgage debt.
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