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Real Estate Properties (Tables) | 9 Months Ended
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Sep. 30, 2015
Real Estate Properties |
Schedule of allocation of the acquisition cost to the estimated fair value of assets acquired |
Acquisition date |  | Location |  | Purchase price (1) |  | Land |  | Land improvements |  | Building and improvements |  | Furniture, fixtures and equipment |  | Intangible assets
3/16/2015 |  | Rosemont, IL (2) (4) | $ | 35,500 | $ | 2,375 | $ | - | $ | 31,401 | $ | 1,463 | $ | 261
4/28/2015 |  | Ft. Lau derdale, FL (3) (5) |  | 750 |  | 750 |  | - |  | - |  | - |  | -
5/15/2015 |  | Denver, CO (2) (6) |  | 77,250 |  | 8,193 |  | - |  | 61,185 |  | 7,872 |  | -
6/1/2015 |  | Various (3) (7) |  | 227,877 |  | 26,286 |  | 67,160 |  | 134,389 |  | 42 |  | -
7/23/2015 |  | Various (2) (8) |  | 85,000 |  | 13,165 |  | - |  | 64,338 |  | 7,497 |  | -
9/23/2015 |  | Various (3) (7) |  | 51,506 |  | 9,165 |  | 21,266 |  | 21,075 |  | - |  | -
|  |  | $ | 477,883 | $ | 59,934 | $ | 88,426 | $ | 312,388 | $ | 16,874 | $ | 261
| (1) |  | Excludes ac quisiti on related costs.
| (2) |  | We accounted for these transactions as business combinations. The pro forma impact of including the results of operations of these acquisitions from the beginning of the year is not material to our condensed consolidated financial statements.
| (3) |  | We accounted for these transactions as asset acquisitions.
| (4) |  | On March 16, 2015, we acquired a 300 room hotel located in Rosemont, IL for $35,500, excl uding acquisition related costs. We added this Holiday Inn and Suites® branded hotel to our management agreement with InterContinental Hotels Group, plc, or InterContinental. See Note 11 for further information regarding our InterContinental agreement.
| (5) |  | On April 28, 2015, we acquired a land parcel adjacent to one of our hotels in Fort Lauderdale, FL for $750, excluding acquisition related costs. See Note 10 for further information regarding this acquisition.
| (6) |  | On May 15, 2015, we acquired a 364 room full service hotel located in Denver, CO for $77,250, exc ludin g acquisition related costs. We added this Crowne Plaza® branded hotel to our management agreement with InterContinental. See Note 11 for further information regarding our InterContinental agreement.
| (7) |  | On June 1, 2015, we entered agreements with TA to acquire and leaseback 14 travel centers it owned and certain assets it owned at 11 properties we lease to TA for an aggregate purchase price of approximately $279,383. During June 2015, we acquired 12 of these travel centers and certain assets at 10 properties TA leases from us for an aggregate purchase price of $227,877. On September 23, 2015, we acquired the remaining two travel centers and certain assets at a property TA leases from us for an aggregate purchase price of $51,506. Pursuant to these agreements, we also agreed to acquire from, and leaseback to, TA five travel centers it is developing for purchase prices equal to TA’s development costs, which are estimated to be approximately $118,000. The acquisition of these five travel centers is expected to occur as development of these travel centers is completed before June 30, 2017. See Note 10 for further information regarding this transaction and our TA agreements.
| (8) |  | On July 23, 2015, we acquired a portfolio of nine extended stay hotels with 1,095 suites located in eight states for $85,000, excluding acquisition related costs. We converted these hotels to Sonesta ES Suites® branded hotels and added them to our management agreement with Sonesta International Hotels Corporation, or Sonesta. See Note 10 for further information regarding this transaction and our Sonesta agreement.

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472 + Details
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