ART announced it has acquired a hotel in Lowestoft, United Kingdomfor £3.1 million including acquisition costs. The property is leased to Travelodge Hotels Limited, the United Kingdom's larger independent hotel brand with more than 590 hotels. The hotel has an 18 year unexpired lease term.

Under the lease, the tenant is responsible for building maintenance and the passing rent of £0.2 m p.a. has inflation linked adjustments, reflecting a yield of 6.2% p.a. ART has acquired the asset for cash. The 47-bedroom property is held freehold and occupies a site of 1.08 acres in Lowestoft, a well-established and well connected area locatedin close proximity to the A47 which runs to Norwich.