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UNITED STATES |
SECURITIES AND EXCHANGE COMMISSION |
Washington, D.C. 20549 |
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FORM 8-K |
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CURRENT REPORT |
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Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
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Date of Report (Date of earliest event reported): March 4, 2011 |
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APPLE REIT TEN, INC. |
(Exact name of registrant as specified in its charter) |
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Virginia |
333-168971 |
27-3218228 |
(State or other jurisdiction |
(Commission File Number) |
(I.R.S. Employer |
of incorporation) |
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Identification Number) |
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814 East Main Street, Richmond, Virginia |
23219 |
(Address of principal executive offices) |
(Zip Code) |
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(804) 344-8121 |
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(Registrants telephone number, including area code) |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Apple REIT Ten, Inc. (which is referred to below as the Company or as we, us or our) is filing this report in accordance with Item 2.01 and Item 9.01 of Form 8-K.
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Item 2.01. |
Completion of Acquisition or Disposition of Assets. |
On March 4, 2011, through one of our indirect wholly-owned subsidiaries (the purchasing subsidiary) , we closed on the purchase of a hotel located in Denver, Colorado. The hotel acquired by our purchasing subsidiary is a Hilton Garden Inn® hotel containing 221 guest rooms. The purchase price for the hotel was $58,500,000. The seller has no material relationship with us or our subsidiaries, other than through the purchase contract and other related contracts.
The purchase price was funded by our ongoing offering of Units (with each Unit consisting of one common share and one Series A preferred share).
Additional information regarding the purchase contract for this hotel is set forth in our Form 8-K dated February 1, 2011 and filed with the Securities and Exchange Commission on February 3, 2011, which is incorporated herein by reference.
All brand and trade names, logos or trademarks contained, or referred to, in this Form 8-K are the properties of their respective owners.
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Item 9.01. |
Financial Statements and Exhibits. |
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a. Financial statements of businesses acquired. |
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Financial statements for the hotel described in Item 2.01 of this report will be filed as necessary by amendment within the required time period. |
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b. Pro forma financial information. |
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Pro forma financial information for the hotel described in Item 2.01 of this report will be filed as necessary by amendment within the required time period. |
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c. Shell company transaction. |
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Not Applicable |
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d. Exhibits. |
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None |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Apple REIT Ten, Inc. |
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By: |
/s/ Glade M. Knight |
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Glade M. Knight, |
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Chief Executive Officer |
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March 8, 2011 |