Inland Completes Apple Acquisition
OCTOBER 9, 2007. Inland Capital Markets Group, Inc. today announced the company negotiated the recently closed purchase of Apple Hospitality Five, Inc. ("Apple Hospitality Five"), a real estate investment trust focused on the ownership of upscale, extended-stay and select-service hotels, on behalf of Inland American Real Estate Trust, Inc. ("Inland American"). The total merger consideration including transaction costs was approximately $700 million; under the terms of the agreement, Apple Hospitality Five shareholders will receive $14.05 per common share in cash.
The Apple Hospitality Five portfolio acquired consists of 27 properties totaling 3,439 rooms, primarily located in major urban markets, operating under various Hilton and Marriott select-service and extended-stay brands.
Inland Capital Markets Group, Inc. acted as advisor to Inland American in the transaction, and Shefsky & Froelich Ltd. acted as legal counsel. Wachovia Securities served as financial advisor, and McGuire Woods LLP acted as legal counsel for Apple Hospitality Five, Inc.
Inland Capital Markets Group, Inc., which is headquartered in Atlanta, Georgia, identifies, analyzes, and provides advice to various entities within The Inland Real Estate Group of Companies, Inc., relating to real estate development and asset based corporate acquisitions, as well as other real estate equity investments.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
