Subsequent Events

9 Months Ended

Sep. 30, 2014

Subsequent Events

Subsequent Events

Note 16 — Subsequent Events

On October 1, 2014, we issued 75,733 shares of common stock upon the redemption of an equivalent number of Common Units of our Operating Partnership which were tendered for redemption.

On October 21, 2014, we sold the Country Inn & Suites and an adjacent land parcel of 5.64 acres in San Antonio, TX for $7.9 million.  Proceeds were used to pay down the balance of the $225 Million Revolver.

On October 31, 2014, our Board of Directors declared cash dividends of $0.1175 per share of common stock, $0.578125 per Series A Preferred share, $0.4921875 per Series B Preferred share, and $0.4453125 per Series C Preferred share. These dividends are payable on November 28, 2014 to holders of record on November 14, 2014.