Apple REIT seeks further acquisitions in 2013, exec says

03/29/2013 | HotelNewsNow.com

Apple REIT is looking to be a net buyer of lodging assets for the rest of 2013, on the heels of several major portfolio transactions in the past few months, Executive Vice President and Chief Investment Officer Nelson Knight says. "It's a blend of one-off deals and portfolio deals. Right now, we're more weighted toward portfolio deals, but it's a mix," Knight said. The REIT's most recent transaction is a $54.5 million acquisition of a three-hotel portfolio in Alabama and Virginia earlier this month.

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