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MacKenzie Realty offers to buy more shares of Apple REIT Ten

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MacKenzie Realty offers to buy more shares of Apple REIT Ten

Apple REIT TenInc., which is being acquiredby Apple Hospitality REIT Inc.in a $1.3 billion mergerdeal, received cash tender offer from

MacKenzie is offering to buy up to 500,000 shares of the company'scommon stock and associated series A preferred shares at $9.21 per share. The sharessubject to the offer make up 0.57% of the REIT's outstanding shares. The buyer andits affiliates currently beneficially own 313,480.07 shares, or 0.36%, of the REIT'soutstanding shares.

If all shares sought in the offer are tendered, consummationof the offer would require MacKenzie to pay up to about $4.6 million in aggregatepurchase price, which it would fund out of its current working capital, accordingto a tender offer statement.

The offer will expire at 11:59 p.m. PT on Aug. 19, unless extended.

MacKenzie Capital Management LP, which is the depositary forthe offer, is also named a bidder.