Which Emerging nontraded REIT owns three hotels with a combined total of 346 rooms and is raising capital in a public offering and is paying distributions at the rate of 6.00% annualized?
Answer: Procaccianti Hotel REIT, Inc. began an offering in August 2018. The REITs weighted average return on assets for the 12 months ended September 30, 2019, was 11.27%.