Apple Hospitality REIT acquires two hotels for $63 million

Richmond-based Apple Hospitality REIT said Tuesday it has purchased two hotels for a total of $63 million.

The REIT said it acquired Hampton Inn & Suites by Hilton in Atlanta and Memphis, Tenn.

“Each of these hotels is well located within the business district and in close proximity to a multitude of amenities and attractions including restaurants, shops, museums and entertainment venues,” Nelson Knight, the company’s executive vice president and chief investment officer, said in a statement.

The 119-room Hampton Inn & Suites by Hilton in Atlanta is located at 161 Ted Turner Drive N.W. It is convenient to several attractions, including the Centennial Olympic Park, the CNN Center and the World of Coca-Cola.

The Hampton Inn & Suites by Hilton in Memphis has 144 rooms. It is situated downtown at 175 Peabody Place near numerous corporate offices, healthcare facilities and colleges. Area attractions include the Beale Street Entertainment District, FedExForum and AutoZone Park.

Apple Hospitality owns one of the largest portfolios of upscale, select-service hotels in the United States. The company has 241 Hilton and Marriott-branded hotels in its portfolio and more than 30,500 guest rooms.