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Which nontraded REIT program used convertible preferred shares for which the sponsor had paid $48,000 and that resulted in the payment of approximately $5.8 million in cash and the issuance of approximately 3.0 million shares of the listed company after a full-cycle event?

January 3, 2017

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Which nontraded REIT program used convertible preferred shares for which the sponsor had paid $48,000 and that resulted in the payment of approximately $5.8 million in cash and the issuance of approximately 3.0 million shares of the listed company after a full-cycle event?

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logo-AppleREITtenApple REIT Ten merged with Apple Hospitality and the sponsor
received roughly $35 million in combined value for the
convertible preferred shares.

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Ramón A. Rivera-Ramos
Blue Vault Nontraded REIT and Nontraded BDC Reviews
September 1, 2016

Blue Vault helps me to stay well informed on the financial status of both open and closed nontraded REITs and BDCs, so that I can help my clients better understand the product, before they make the decision to invest and after.