Apple REIT Reaps $198M From Sale Of 111 Texas Tracts

Law360, New York (November 10, 2011, 2:10 PM EST) -- Apple REIT Nine Inc. has sold 111 tracts of natural-gas-rich land in four Texas counties to a limited partnership called 111 Realty Investors LP for $198.4 million, the real estate investment trust said in a regulatory filing Wednesday.

Apple REIT Nine, a nonlisted investment trust that focuses mainly on hotel real estate, told the U.S. Securities and Exchange Commission that the sale comprised 110 separate parcels of land, ranging from 3 to 5 acres in size each, in Tarrant, Johnson, Dallas and Ellis counties.

Many of...
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