Apple Hospitality REIT, Inc., a Richmond, Virginia-based real estate investment trust, announced Tuesday it purchased the 127-room Hyatt Place Jacksonville Airport for $15.4 million.
The seller was HP Jacksonville LLC, a subsidiary of BPR Properties.
The hotel, at 14565 Duval Road, last sold in 2015 for $10.75 million.
Apple Hospitality owns 241 hotels in 34 states. The Hyatt Place is the REIT's first Hyatt-branded hotel.
The company also owns 126 Hilton and 114 Marriott-branded hotels.
Apple Hospitality trades on the New York Stock Exchange as APLE. It closed Tuesday at $15.46.