Apple REIT Seven and Eight Investors Urged to Think Twice About Pending $3/Share Tender Offer

On June 1, 2011, MacKenzie Patterson Fuller, L.P. started a tender offer for Apple REIT Seven and Eight shares at the price of $3 per share, which is most likely the result of the flood of redemption requests that these Apple REITs are currently seeing. 

In a letter to shareholders soliciting them to sell their shares in the tender offer, MacKenzie Patterson Fuller said “Good news! Now you can sell your Apple REIT (Seven or Eight) investment and regain control of your money.  Right now, MFP will pay you $3 per unit.”  MacKenzie Patterson Fuller is certainly correct that the shares in Apple REIT Seven and Eight are now worth far less than the $11 per share that reflects on their monthly statements from David Lerner Associates.

Investors can read the full letters here:

http://www.sec.gov/Archives/edgar/data/1102946/000110294611000018/applereitsevenltr611.htm

http://www.sec.gov/Archives/edgar/data/1102946/000110294611000017/applereiteightltr611.htm

Unfortunately for most investors, taking more than 70% loss in their investment is anything but good news.  However, there is hope for investors to exit their investment in Apple REIT Seven and Eight (along with the other Apple REITs) without realizing these substantial losses. 

Our attorneys are representing investors who have suffered losses investing in Apple REIT Seven and Eight along with those who are seeking to rescind (get out of) their investment in this product at the full $11 per share value.

If you have invested in Apple REIT Seven, Eight or any of the other Apple REITs upon the recommendation of David Lerner Associates, please contact one of our attorneys at 312-332-0000 to discuss your recovery options.