Publications

Transactions

To read this full article you need to be subscribed to Newsline.

Start Your Free Trial Now

Apple Hospitality REIT sells 18-property hotel for $206m

by Andrea Waitrovich

Apple Hospitality REIT, part of the Apple REIT Cos., has sold an 18-property hotel portfolio to MCR Development for $206.4 million.

The hotel portfolio totals 1,799 rooms located in Alabama, Arizona, Colorado, Georgia, Kentucky, Louisiana, North Carolina, Ohio, Oklahoma, Tennessee and Texas.

The highest priced hotel is the 106-room Hampton Inn in Port Wentworth, Ga., which sold for $24 million. The largest hotel in the portfolio is the 134-room Hilton Garden Inn – West Monroe in Louisiana with a sales price of $14.5 million.

The lowest priced hotel is the 102-room Hampton Inn & Suites in Tulsa, Okla., which sold for $6.3 million. The smallest hotel is the 76-room Homewood Suites by Cincinnati Milford in Ohio, which had a sales price of $6.7 million.

Apple Hospitality REIT’s portfolio now consists of 173 hotels.

The nontraded REIT has plans to go public, but an official announcement not been made.

REITs have

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?