U.S. Apple Hospitality REIT purchases Hyatt Place hotel for $15.4 mln

12/11/2018 10:15:00 AM (GMT)

Apple Hospitality REIT Inc., the real estate investment unit of U.S.-based real estate investment holding company Apple REIT Co., has purchased a 127-room Hyatt Place hotel.

Apple Hospitality paid approximately $15.4 million for the hotel, which is located in Jacksonville, Florida.

The company revealed that the acquisition will complement its existing portfolio of hotels, and expects to increase its relationship with U.S. hotel operator Hyatt in the future.

Apple Hospitality REIT acquired the hotel from a subsidiary of U.S.-based hospitality company BPR Properties.

Apple Hospitality REIT Inc.

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