Apple – no, not this Apple – (REIT Six) is raking in cash. And so is it’s top executive.
As announced recently, Blackstone struck a deal to acquire Glade Knight’s Apple REIT Six for $1.15 billion or approximately $150,000 per room. Apple REIT Six is comprised of 66 upscale, extended-stay and select-service hotels or 7,658 rooms of mostly Hilton (Hilton Garden Inn, Hampton Inn and Homewood Suites) and Marriott (Residence Inn, Fairfield Inn and TownPlace Suites) branded properties. We have them all in OpenComps: see the portfolio breakdown! So, after Apple REIT successfully exited its Apple Hospitality Two (sold to ING Clarion in May 2007 for $890 million) and Apple Hospitality Five (sold to Inland American Real Estate Trust in October 2007 for $677 million), Mr. Knight pulls out of The Great Recession unscathed… and actually with quite a few nickels in the pockets of his shareholders and, most importantly, himself. Continue reading
Although we acquired the opencomps.com domain a few years ago, and many of you founds on that address through general Internet searches, we continued to use the .info domain in the site’s branding and email addresses. We believed that this gave you, the users, a clue of what to expect on the site – (valuable) information.
However, we’ve often heard the question: “What was your site called again?”. And having people remember the .info at the end seemed elusive for many folks. Many just wanted to remember “OpenComps” and naturally append “.com”.
So, as part of our on-going re-engineering efforts, we have decided to re-brand the site to simply “OpenComps” and switch all domains and email addresses to opencomps.com. .Info domain and email addresses still work just as well, but we hope you will find it easier to remember the site and our email addresses with a .com ending.
.com or .info, we look forward to seeing you around and hearing from you.
In late November, we launched a new integrated subscription system that will hopefully make subscribing and maintaining your subscription to OpenComps easier, more secure and convenient. Continue reading
We are happy to announce that today we are launching our company blog at http://www.opencomps.com/blog. We plan on using this venue to keep you updated on where OpenComps is heading: tweaks, updates, maintenance and vision for the site.
We will also share with you our thoughts on real estate transactions, industry trends and other entrepreneurial thoughts. These thoughts are not likely going to be ground-breaking but, hopefully, they will give you enough of a new perspective that you find them educational and entertaining.
Since starting the site in May 2006, we have been humbled by people’s positive response on the site usefulness, speed and usability. We thank you for your support and look forward to continuing to serve you.