Hotelier To Merge Four Apple REITs

Hotelier Glade Knight is seeking to combine Apple REIT Six, Seven, Eight and Nine as a possible precursor to a listing on a major exchange.

Hotelier Glade Knight is seeking to combine Apple REIT Six, Seven, Eight and Nine as a possible precursor to a listing on a major exchange, Commercial Real Estate Direct reports. The four companies own 254 hotels that were acquired for about $4.2 billion.

Their properties operate under a number of Marriott International and Hilton Worldwide brands, including SpringHill Suites, TownePlace Suites, Fairfield, Courtyard, Residence, Hampton, Homewood Suites and Hilton Garden. All four companies are lightly leveraged.

Click here for the story from Commercial Real Estate Direct.