Hotels only · No pay-to-rank · Advice first; verified when attested
Public tape · 76 of 282 · 2023
Apple acquired the existing 154-room Courtyard Cleveland University Circle on June 30, 2023 for a $31.0 million gross purchase price. Harbor PPK is $31.0 million ÷ 154. Apple rounded the same math to about $201,000 per key. Use the table price, not transaction costs. Seller unnamed. Not a Cincinnati river-city PPK. Apple’s $289.75 million 2023 line is the sum of six named hotel prices plus a $9.14 million garage that is not a hotel tape. Older than the 2025–26 blotter cut.
$31.0M
Cited consideration · 154 keys · $201k / key
Apple 2023 10-K table: $31.0 million for the existing 154-room University Circle Courtyard. University Circle Courtyard — not a Cincinnati river-city PPK.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2023 (closed June 30)
Historical cited · 2023 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Deal FrameLiving packetLabeled estimateCompare this tape2023 cited corpus2023 cited filingsApple · 2023 filings
Source
Apple Hospitality REIT Form 10-K for the year ended December 31, 2023 (closed June 30)
https://www.sec.gov/Archives/edgar/data/1418121/000095017024018793/aple-20231231.htmEstimate ↔ tape
Cited consideration on the left. Harbor’s labeled defaults on the right. A gap is a question, not a bid. Portfolio tapes and seller paper stay footnoted. Not an appraisal.
$201,299 / key · 154 keys
$196,783 / key · Harbor defaults
Cleveland · worksheet vs tape PPK
Apple 2023 10-K table: $31.0 million for the existing 154-room University Circle Courtyard. University Circle Courtyard — not a Cincinnati river-city PPK.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2023 (closed June 30)
Historical cited · 2023 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
The house
Worksheet, not an appraisal. Shock cap ±50 bps and ADR ±10% before you treat any number as a bid.
Cleveland · Upscale
154 keys · Cleveland · Courtyard by Marriott
University Circle Courtyard. Apple bought the existing 154-key house on June 30, 2023 for $31.0 million (2023 10-K table). Seller unnamed. Not a Cincinnati river-city PPK. Apple’s $289.75 million 2023 line is the sum of six named hotel prices plus a $9.14 million garage that is not a hotel tape.