upl-9466-Apple5web

As the exclusive underwriter for Apple Hospitality Five, David Lerner Associates' clients invested $500 million in the program. Apple Hospitality Five consisted of 28 upper-end, extended-stay and other select-service hotels in selected metropolitan areas.

  • In October 2007, the program merged with and into a subsidiary of Inland American Real Estate Trust, Inc. Each shareholder of Apple Hospitality Five received $14.05 for each outstanding unit (consisting of one common share together with one Series A preferred share).

» View Apple Hospitality Five SEC Filing


This information is neither an offer to sell nor the solicitation of an offer to buy any security, which can be made only by prospectus, as supplemented, which has been filed or registered with appropriate state and federal regulatory agencies. No regulatory agency has passed on or endorsed the merits of this offering, and any representation to the contrary is unlawful.

PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS. Offering by prospectus only.

Real Estate Investment Trusts (REITs) are subject to the normal risks associated with the ownership of real estate, including possible decline in value, environmental problems and changes in interest rates. In addition, since the REITs we offer lack public markets (i.e. are illiquid), investors should be prepared to hold the investment for an indefinite period of time, although certain REITs (i.e. Apple REIT Six) may offer the possibility of limited, interim liquidity.