Real estate mortgage investment conduit

Apple Hospitality REIT Completes Acquisition of Residence Inn by Marriott Seattle South/Renton

Retrieved on: 
Thursday, October 19, 2023
REIT, Lodging, Commercial Building & Real Estate, Construction & Property, Travel, Virginia Mason Athletic Center, PACCAR, Kenworth, Real estate, NYSE, Bolt-on acquisition, Seattle–Tacoma International Airport, Real estate mortgage investment conduit, Acquisition, Investment, STR, Aviation, Gene Coulon Memorial Beach Park, Restaurant, Motto, Hospitality, Tukwila station, Bellevue East High School, Embassy Suites by Hilton, Boeing, Hotel, Residence Inn by Marriott, Sounder

Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced that it has completed the acquisition of the 146-room Residence Inn by Marriott Seattle South/Renton (the “Hotel”) for approximately $55.5 million, or $380,000 per key.

Key Points: 
  • Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced that it has completed the acquisition of the 146-room Residence Inn by Marriott Seattle South/Renton (the “Hotel”) for approximately $55.5 million, or $380,000 per key.
  • “We are pleased to further diversify and enhance our portfolio with the acquisition of this recently-built, extended-stay hotel in Renton,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality.
  • The Residence Inn is ideally located near a variety of guest amenities and benefits from the diversity of Renton’s business and leisure demand generators.
  • Following the acquisition of the Residence Inn Seattle South/Renton, the Apple Hospitality hotel portfolio includes 223 hotels with 29,409 guest rooms geographically diversified throughout 37 states.

Apple Hospitality REIT Acquires Courtyard by Marriott and Hyatt House in Downtown Salt Lake City and Announces Two Additional Hotels Under Contract for Purchase

Retrieved on: 
Thursday, October 12, 2023
REIT, Lodging, Commercial Building & Real Estate, Construction & Property, Travel, STR, Walking, NYSE, Cottonwood Canyon, Acquisition, Investment, Tourism, Utah State Capitol, Real estate, Vivint Arena, Transport, Hyatt House, University, Temple Square, Salt Palace, Salt Lake City International Airport, Real estate mortgage investment conduit, Embassy Suites by Hilton, Hospitality, Courtyard, Hotel

“The acquisition of the Courtyard and the Hyatt House in downtown Salt Lake City expands our presence within the vibrant Salt Lake market, an area well known for its business-friendly environment, attractive cost of living, cultural attractions and proximity to outdoor recreational activities, which has seen significant economic growth in recent years and is poised for continued expansion.

Key Points: 
  • “The acquisition of the Courtyard and the Hyatt House in downtown Salt Lake City expands our presence within the vibrant Salt Lake market, an area well known for its business-friendly environment, attractive cost of living, cultural attractions and proximity to outdoor recreational activities, which has seen significant economic growth in recent years and is poised for continued expansion.
  • We are actively underwriting additional opportunities and are well positioned to further add to our portfolio in the coming months.”
    The Courtyard Salt Lake City Downtown is located at 345 West 100 South, Salt Lake City, Utah, and the Hyatt House Salt Lake City/Downtown is located at 140 South 300 West, Salt Lake City, Utah.
  • The Courtyard opened in October 2015 and the Hyatt House, which recently underwent a full soft-goods renovation, opened in January 2015.
  • Following the acquisition of the downtown Salt Lake City hotels, the Apple Hospitality hotel portfolio includes 222 hotels with 29,263 guest rooms geographically diversified throughout 37 states.

Apple Hospitality REIT Acquires the Courtyard by Marriott Cleveland University Circle

Retrieved on: 
Wednesday, July 5, 2023
Residential Building & Real Estate, Other Travel, Lodging, Construction & Property, Destinations, Travel, REIT, Hospitality, Heart, Leisure, Investment, Information technology, Real estate mortgage investment conduit, OH, STR, Aviation, Polymer, Hotel, Case Western Reserve University, Courtyard, University Hospitals Cleveland Medical Center, Acquisition, FirstEnergy Stadium, Growth, Health, Field, NYSE, Cornell Road, Real estate

Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the acquisition of the newly renovated Courtyard by Marriott Cleveland University Circle (the “Hotel”) for $31 million, or approximately $201,000 per key.

Key Points: 
  • Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the acquisition of the newly renovated Courtyard by Marriott Cleveland University Circle (the “Hotel”) for $31 million, or approximately $201,000 per key.
  • “We are pleased to grow our portfolio with the acquisition of this custom-designed, recently renovated Courtyard by Marriott in the heart of Cleveland’s University Circle district,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality.
  • The Hotel is ideally located within University Circle, a premier educational, medical and social district on the east side of Cleveland, home to Case Western Reserve University, University Hospitals Cleveland Medical Center and numerous cultural attractions and performing arts venues.
  • Following this acquisition, the Apple Hospitality portfolio includes 221 hotels with 29,138 guest rooms geographically diversified throughout 37 states.

Apple Hospitality REIT Acquires the AC Hotel by Marriott Louisville Downtown and the AC Hotel by Marriott Pittsburgh Downtown

Retrieved on: 
Wednesday, October 26, 2022
Commercial Building & Real Estate, Construction & Property, Finance, Urban Planning, REIT, Professional Services, Other Travel, Lodging, Residential Building & Real Estate, Travel, Trust, U.S. Securities and Exchange Commission, Securities Act of 1933, Hospitality, Kentucky International Convention Center, University, Investment, University of Louisville, Vaccine, PNC Park, NYSE, Carnegie Mellon University, Restaurant, Market Square, AC Hotels, Internal Revenue Code, East Market District, Louisville, Security (finance), Kentucky Derby, REIT, Technology, KFC Yum! Center, Company, Acquisition, Industry, Securities Exchange Act of 1934, Phrase, Real estate mortgage investment conduit, Food, Classification, Real estate, Forward-looking statement, Robotics, PPG Paints Arena, Travel, Hilton, COVID-19, STR, RevPAR, Risk, Internal Revenue Code section 409A, Hotel, Tourism

Apple Hospitality REIT, Inc. (NYSE: APLE) (the Company or Apple Hospitality) today announced the acquisition of the AC Hotel by Marriott Louisville Downtown for $51 million, or approximately $327,000 per key, and the AC Hotel by Marriott Pittsburgh Downtown for $34 million, or approximately $254,000 per key.

Key Points: 
  • Apple Hospitality REIT, Inc. (NYSE: APLE) (the Company or Apple Hospitality) today announced the acquisition of the AC Hotel by Marriott Louisville Downtown for $51 million, or approximately $327,000 per key, and the AC Hotel by Marriott Pittsburgh Downtown for $34 million, or approximately $254,000 per key.
  • The hotel benefits from a variety of leisure, academic and sports-related demand generators given its proximity to the KFC Yum!
  • Center, the University of Louisville, the Kentucky International Convention Center, well-known bourbon distilleries, various outdoor spaces and parks, and Churchill Downs, home of the annual Kentucky Derby.
  • Following these acquisitions, the Apple Hospitality portfolio includes 220 hotels with 28,983 guest rooms geographically diversified throughout 37 states.

Apple Hospitality REIT Acquires Portfolio of Three Hotels

Retrieved on: 
Thursday, November 18, 2021
Professional Services, Commercial Building & Real Estate, Lodging, Finance, Construction & Property, Travel, REIT, Real estate mortgage investment conduit, Internal Revenue Code, Security (finance), Forest Park, Real estate, STR, Securities Act of 1933, Risk, Technology, Phrase, Industry, Forward-looking statement, Acquisition, Company, Hospital, NYSE, Texas Christian University, University, Hotel Texas, Hampton by Hilton, Homewood Suites by Hilton, REIT, U.S. Securities and Exchange Commission, COVID-19, Education, Vaccine, Trust, Securities Exchange Act of 1934, Dickies Arena, Will Rogers Memorial Center, Restaurant, Hilton Garden Inn Kampala, Internal Revenue Code section 409A, Medical Center, Museum, Investment, Hilton Portland Hotel, Hilton, Walking, Classification, Hospitality, Travel, Portland State University, RevPAR, Fortification, Hotel

Apple Hospitality REIT, Inc. (NYSE: APLE) (the Company or Apple Hospitality) today announced the acquisition of a portfolio of three hotels for a total purchase price of $126 million.

Key Points: 
  • Apple Hospitality REIT, Inc. (NYSE: APLE) (the Company or Apple Hospitality) today announced the acquisition of a portfolio of three hotels for a total purchase price of $126 million.
  • Following these acquisitions, the Apple Hospitality portfolio includes 219 hotels with 28,747 guest rooms geographically diversified throughout 36 states.
  • Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States.
  • Concentrated with industry-leading brands, the Companys portfolio consists of 94 Marriott-branded hotels, 119 Hilton-branded hotels, four Hyatt-branded hotels and two independent hotels.

Apple Hospitality REIT Acquires the Aloft Portland, Maine

Retrieved on: 
Monday, September 13, 2021
Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Destinations, REIT, Travel, Risk, Hospitality, U.S. Securities and Exchange Commission, Security (finance), Government, University, Forward-looking statement, Real estate mortgage investment conduit, Classification, Securities Exchange Act of 1934, Hilton, Â, Company, REIT, Maine Medical Center, Securities Act of 1933, Investment, NYSE, Museum, Restaurant, Real estate, Industry, Phrase, Vaccine, Internal Revenue Code section 409A, Aloft Hotels, University of Southern Maine, COVID-19, Internal Revenue Code, Hotel, Trust, STR, Commercial Street, Acquisition, Risk management

Apple Hospitality REIT, Inc. (NYSE: APLE) (the Company or Apple Hospitality) today announced the acquisition of the 157-room Aloft Hotel on the waterfront in downtown Portland, Maine (the Hotel), for a total purchase price of $51.2 million, or approximately $326,000 per key.

Key Points: 
  • Apple Hospitality REIT, Inc. (NYSE: APLE) (the Company or Apple Hospitality) today announced the acquisition of the 157-room Aloft Hotel on the waterfront in downtown Portland, Maine (the Hotel), for a total purchase price of $51.2 million, or approximately $326,000 per key.
  • The Hotel is also convenient to Maine Medical Center, the University of Southern Maine, manufacturing companies and numerous corporate offices.
  • Following this acquisition, the Apple Hospitality portfolio includes 215 hotels with approximately 28,100 guest rooms geographically diversified throughout 35 states.
  • Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States.

Apple Hospitality REIT Acquires Hyatt Place in Greenville, South Carolina

Retrieved on: 
Thursday, September 2, 2021
REIT, Lodging, Commercial Building & Real Estate, Construction & Property, Travel, Investment, Restaurant, Acquisition, Classification, COVID-19, Securities Act of 1933, Greenville Zoo, Hilton, U.S. Securities and Exchange Commission, Heart, Museum, Real estate mortgage investment conduit, STR, Hospitality, Security (finance), Forward-looking statement, Internal Revenue Code section 409A, Securities Exchange Act of 1934, Real estate, Company, Risk, Internal Revenue Code, Trust, Phrase, Technology, Industry, Vaccine, Peace Center, Hyatt, NYSE, REIT, Hotel, Risk management

Apple Hospitality REIT, Inc. (NYSE: APLE) (the Company or Apple Hospitality) today announced the acquisition of the 130-room Hyatt Place in downtown Greenville, South Carolina (the Hotel), for a total purchase price of approximately $30 million, or approximately $231,000 per key.

Key Points: 
  • Apple Hospitality REIT, Inc. (NYSE: APLE) (the Company or Apple Hospitality) today announced the acquisition of the 130-room Hyatt Place in downtown Greenville, South Carolina (the Hotel), for a total purchase price of approximately $30 million, or approximately $231,000 per key.
  • The Hyatt Place Greenville Downtown opened in December 2018 and is located at 128 East Broad Street in Greenville, South Carolina.
  • Following this acquisition, the Apple Hospitality portfolio includes 214 hotels with more than 27,900 guest rooms geographically diversified throughout 35 states.
  • Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States.

Fannie Mae Priced $802 Million Multifamily DUS REMIC (FNA 2021-M17) Under Its GeMS Program

Retrieved on: 
Thursday, July 22, 2021
Mortgage industry of the United States, Fannie Mae, Economy of the United States, Real estate mortgage investment conduit, Fannie, Companies, Financial services in the United States

WASHINGTON, July 22, 2021 /PRNewswire/ --Fannie Mae (OTCQB: FNMA) priced an $802 million Multifamily DUS REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on July 21, 2021.

Key Points: 
  • WASHINGTON, July 22, 2021 /PRNewswire/ --Fannie Mae (OTCQB: FNMA) priced an $802 million Multifamily DUS REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on July 21, 2021.
  • FNA 2021-M17 marks the eighth Fannie Mae GeMS issuance of 2021.
  • "We were grateful that market participants were able to focus on our July GeMS deal, the M17, given the rate volatility this week," said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing.
  • All classes of FNA 2021-M17 are guaranteed by Fannie Mae with respect to the full and timely payment of interest and principal.

Freddie Mac Prices $269 Million Multifamily K-Deal, K-J34

Retrieved on: 
Tuesday, July 20, 2021
Mortgage industry of the United States, Finance, Money, Financial markets, Freddie Mac, Mortgage loan, Real estate mortgage investment conduit, Mortgage-backed security

MCLEAN, Va., July 20, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates) which are backed by underlying collateral consisting of supplemental multifamily mortgages. The company expects to issue approximately $269 million in K Certificates (K-J34 Certificates), which are expected to settle on or about July 29, 2021.

Key Points: 
  • The K-J34 Certificates are backed by corresponding classes issued by the FREMF 2021-KJ34 Mortgage Trust (KJ34 Trust) and guaranteed by Freddie Mac.
  • Freddie Mac Multifamily is a leading issuer of agency-guaranteed structured multifamily securities.
  • This announcement is not an offer to sell any Freddie Mac securities.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.

ARMOUR Residential REIT, Inc. Confirms July 2021 Dividend Rate Per Common Share and Q3 2021 Monthly Dividend Rate Per Series C Preferred Dividends

Retrieved on: 
Thursday, July 1, 2021
United States housing bubble, Structured finance, Real estate investment trust, Mortgage industry of the United States, Mortgage-backed security, Dividend, Taxable income, Corporate finance, Finance, Economy, Real estate mortgage investment conduit

In order to maintain this tax status, ARMOUR is required to timely distribute substantially all of its ordinary REIT taxable income.

Key Points: 
  • In order to maintain this tax status, ARMOUR is required to timely distribute substantially all of its ordinary REIT taxable income.
  • Dividends paid in excess of current tax earnings and profits for the year will generally not be taxable to common stockholders.
  • ARMOUR invests exclusively in fixed rate residential, adjustable rate and hybrid adjustable rate residential mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises or guaranteed by the Government National Mortgage Association.
  • ARMOUR is externally managed and advised by ARMOUR Capital Management LP, an investment advisor registered with the Securities and Exchange Commission (SEC).