Apple Hospitality REIT announced that it has completed the acquisition of the 146-room Residence Inn by Marriott Seattle South/Renton for approximately $55.5 million, or $380,000 per key. The seller was MCR.
The Residence Inn Seattle South/Renton opened in August 2019 and is at 1200 Lake Washington Blvd. N., Renton, Wash. The hotel is less than one mile from Boeing’s Renton production facility and just over one mile from PACCAR’s Kenworth truck-assembly plant in Renton. The hotel is across from Gene Coulon Memorial Beach Park, which provides access to the southeastern shore of Lake Washington and is near a variety of stores and restaurants, and to the Virginia Mason Athletic Center, home of the NFL’s Seattle Seahawks’ headquarters and training facility. Tukwila Station, serving the Sounder commuter rail, and Seattle-Tacoma International Airport are relatively short drives from the hotel.
