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New hotel in Burbank sold

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Photo: FLLewis / Media City G -- SpringHill Suites by Marriott at 549 South San Fernando Boulevard in Burbank ready for grand opening Saturday July 11, 2015

Photo: FLLewis / Media City G — SpringHill Suites by Marriott at 549 South San Fernando Boulevard in Burbank ready for grand opening Saturday July 11, 2015

The new SpringHill Suites by Marriott in Burbank has been sold for $60 million. R.D. Olson Development broke ground on the 102,075-square-foot hotel with a budget of $44 million at 549 South San Fernando Boulevard in January of 2014. It officially opened last Monday. The hotel features 170 rooms with free Internet connections, kitchenettes with microwaves, mini-fridges, coffee service, outdoor patio with fire pit, pool and spa, a fitness center, and a bar area, which honors Hollywood icons in a tribute to the nearby Burbank studios.

Apple Hospitality REIT Inc.of Richmond,Virginia, an investment trust, bought the Burbank SpringHill Suites., according to the San Fernando Valley Business Journal.  Apple Hospitality REIT owns 174 hotels including the Residence Inn at 321 South First Street in Burbank.

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