Since its listing on the New York Stock Exchange a year ago this month, there’s been little let-up in activity at Richmond, Virginia-based Apple Hospitality REIT, Inc. (NYSE: APLE).
Last month, the lodging REIT announced plans to acquire public non-listed REIT Apple REIT Ten, Inc. in a deal valued at approximately $ 1.3 billion. Apple REIT Ten was formed by Glade Knight, the executive chairman of Apple Hospitality. The merger would create one of the largest lodging REITs in the country.