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Residence Inn Portland, Maine — Apple Hospitality acquisition
$55,750,000 · $311,453/key
Apple acquired the existing 179-room Residence Inn in Portland, Maine on October 13, 2017 for a $55.750 million gross purchase price. Harbor PPK is $55.750 million ÷ 179. Apple rounded the same math to about $311,000 per key. Use the table price, not transaction costs. Seller unnamed. Not the 2021 AC $66.75 million tape and not the Aloft $51.15 million tape. Not Portland, Oregon. The $161.770 million 2017 line is the sum of six named 10-K prices. The Birmingham adjoining dual-brand 2017 line stays combined. Older than the 2025–26 blotter cut.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2017 (closed October 13)