Apple REITs complete merger

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

 

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

 

Suggested Articles

Thomas C. Morey will retain his role as general counsel on an interim basis until his successor is appointed.

This week has been about the economy and budget sector, the planet and whether the Reuben Brothers go clubbing a lot.

The budget hotel sector has seen its focus expand to look not only at price, but at design and concept, as guests have become more demanding.