RICHMOND, VA—Apple Hospitality REIT, Inc. recently completed the acquisition of three hotels: a Hampton Inn in Ft. Lauderdale, FL; a Hampton Inn in Cypress, CA; and a SpringHill Suites by Marriott in Burbank, CA.
The company closed on the acquisition of the 156-room Hampton Inn in the Las Olas area of downtown Ft. Lauderdale on June 23 for a purchase price of approximately $23 million. The property, near to Port Everglades and Ft. Lauderdale-Hollywood International Airport, is located in the heart of downtown Ft. Lauderdale near multiple guest attractions and amenities.
Effective June 29, the company acquired a 110-room Hampton Inn in Cypress, CA, for approximately $20 million. The property is located two miles from downtown Cypress, near to a variety of national and international corporate headquarters and less than seven miles from Disneyland Park.
The company also purchased a new 170-room SpringHill Suites by Marriott in Burbank, CA, effective July 13, for a purchase price of approximately $60 million. The boutique-style hotel is located within walking distance of downtown Burbank and near to the numerous attractions in the Hollywood area.