Justin G. Knight Of Apple Hospitality REIT Inc Buys Rogers Hotel For $33.5M

The property involved in the transaction is a hotel located at 4501 West Walnut Street & 4302 West Walnut Street in Rogers, AR. The asset, comprising 248 keys, was sold by Apple Hospitality REIT Inc. to an undisclosed buyer, Justin G. Knight, for a total of $33,500,000, at a price of $135,080 per room.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $33,500,000
• Address: 4501 West Walnut Street & 4302 West Walnut Street
• Market: Rogers, AR
• Buyer: Justin G. Knight - Apple Hospitality REIT Inc
• Keys: 248
• Price Per Key: $135,080

Apple Hospitality REIT Inc. divested the pair of limited-service hotels in Rogers, Ark., with a total of 248 keys, to Justin G. Knight of Apple Hospitality REIT Inc. The transaction amounted to $33.5 million, signifying a significant exit for the seller in the hotel sector.