Hotels only · No pay-to-rank · Advice first; verified when attested
Public tape · 206 of 282 · 2017
Apple sold the 316-room Marriott Fairfax on October 5, 2017 for a gross sales price of approximately $41.5 million. Harbor PPK is $41.5 million ÷ 316. The same 10-K names October 5, the 316 rooms, and that price. Use the $41.5 million sale price, not a net line. Buyer unnamed. Not the 2016 Chesapeake Marriott $9.9 million tape, not Apple’s 2024 AC Hotel Washington DC Convention Center $116.804 million tape, not DiamondRock’s Westin Washington D.C. City Center, and not Xenia’s Lorien Alexandria $30.0 million tape. The $161.770 million 2017 buy line stays off this sale tape. The Birmingham adjoining dual-brand 2017 line stays combined. Older than the 2025–26 blotter cut.
$41.5M
Cited consideration · 316 keys · $131k / key
Apple 2017 10-K: approximately $41.5 million gross for the 316-room Marriott Fairfax. Fairfax Marriott — not a downtown DC convention PPK.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2017 (sold October 5)
Historical cited · 2017 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Deal FrameLiving packetLabeled estimateCompare this tape2017 cited corpus2017 cited filingsApple · 2017 filings
Source
Apple Hospitality REIT Form 10-K for the year ended December 31, 2017 (sold October 5)
https://www.sec.gov/Archives/edgar/data/1418121/000118518518000290/applehospitality10k123117.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.
$131,329 / key · 316 keys
$191,625 / key · Harbor defaults
Northern Virginia · worksheet vs tape PPK
Apple 2017 10-K: approximately $41.5 million gross for the 316-room Marriott Fairfax. Fairfax Marriott — not a downtown DC convention PPK.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2017 (sold October 5)
Historical cited · 2017 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.
Northern Virginia · Upper upscale
316 keys · Fairfax · Marriott
Fairfax Marriott. Apple sold the 316-key house on October 5, 2017 for a gross sales price of approximately $41.5 million (2017 10-K). Buyer unnamed. Use the $41.5 million sale price, not a net line. Not the 2016 Chesapeake Marriott $9.9 million tape, not a downtown DC convention PPK, and not Lorien Alexandria $30.0 million.
Same house or same market · 1
Same hotel first, then the same market and segment. Structure footnotes stay on the tape. This is not a paid comps service.
Marriott Tysons Corner · 396 keys · Upper upscale
Consideration
$87.5M
$221k / key
Sunstone Exhibit 99.1: $87.5 million gross for the 396-room Marriott Tysons Corner. Tysons Marriott — not a Fairfax Marriott PPK and not a downtown DC convention PPK.
Sunstone completed the sale of the 396-room Marriott Tysons Corner for a gross sale price of $87.5 million. The December 18, 2018 8-K and Exhibit 99.1 name the completed sale, the 396 rooms, and that hotel price. Harbor uses December 18 rather than inventing a different closing day. Harbor PPK is $87.5 million ÷ 396. Use the $87.5 million hotel price, not the $85.5 million net after the hotel’s FF&E reserve. Buyer unnamed — Harbor will not invent a desk from trade press. Filing names Tysons Corner — Harbor will not invent a Vienna or McLean lock. Not Apple’s 2017 Marriott Fairfax $41.5 million / 316 tape and not a downtown DC Palomar or Liaison PPK. The Marriott Philadelphia plus Marriott Quincy $139.0 million line stays combined. Renaissance Harborplace and Renaissance Los Angeles Airport stay off until a filing names month, price, and keys together. Older than the 2025–26 blotter cut.