Shareholders at Apple REIT Seven, Apple REIT Eight and Apple REIT Nine approved the previously-announced definitive merger agreement and related mergers pursuant to which Apple Seven and Apple Eight will combine with Apple Nine in two merger transactions.
Approximately 93 percent of Apple Seven’s units, 93 percent of Apple Eight’s units and 89 percent of Apple Nine’s units present at the special meetings were voted in favor of the transactions. The Companies currently expect the mergers to become effective as of March 1, 2014. The completion of the mergers remains subject to the satisfaction of certain customary closing conditions