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Blackstone To Acquire Apple REIT Six

Tuesday December 4th, 2012 - 8:02AM

NEW YORK—An affiliate of the Blackstone Group private equity firm has agreed to acquire Apple REIT Six, Inc. for approximately $1.2 billion.

Part of the Apple REIT Cos., Apple REIT Six is a lodging real estate investment trust focused on upscale, extended-stay and select-service hotels. The portfolio of 66 properties in 18 states represents more than 7,650 rooms. All 66 are branded with either a Marriott International or Hilton Worldwide brand. The deal is scheduled to close in the first half of next year and follows on the heels of Blackstone's acquisition of the Motel 6 and Studio 6 brands from Accor for $1.9 billion, which closed earlier this year.