Page 22 - Apple REIT 9 2008 Annual Report

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Investment in real estate at December 31, 2008, consisted of the following (in thousands):
Land ......................................................... $ 38,549
Building and Improvements ..................... 289,672
Furniture, Fixtures and Equipment .......... 20,479
348,700
Less Accumulated Depreciation .............. (2,277)
Investment in real estate, net .................... $ 346,423
For additional information about the Company’s properties, refer to Item 7. Management’s Discussion and Analysis of Financial
Condition and Results of Operations.
Item 3. Legal Proceedings
The Company is not presently subject to any material litigation nor, to the Company’s knowledge, is any litigation threatened
against the Company or any of its properties, other than routine actions arising in the ordinary course of business, some of which are
expected to be covered by liability insurance and all of which collectively are not expected to have a material adverse effect on the
Company’s business or financial condition or results of operations.
Item 4. Submission of Matters to a Vote of Security Holders
None.