Supertel Hospitality, Inc. (NasdaqGM:SPPR) has entered into an agreement to acquire TownePlace Suites Des Moines Urbandale for $10.2 million on September 24, 2012. The purchase price is exclusive of closing costs and fees. The acquisition will be funded with available capital and financing. The deal is subject to customary closing conditions. The deal is expected to close in the fourth quarter of 2012.

Supertel Hospitality, Inc. (NasdaqGM:SPPR) cancelled the acquisition of TownePlace Suites Des Moines Urbandale on January 7, 2013.