JLL last week announced that the firm arranged the sale of the Hamilton Crowne Plaza in Washington, D.C. on behalf of Barings Real Estate Advisers for an institutional investor. continue reading →
Located at the intersection of M and 15th streets - just a half mile north of the White House - the property has been rebranded as The Madison, a Hilton Hotel. It will be managed by Hilton Hotels & Resorts. continue reading →
Noble Investment Group today announced the acquisition of the Staybridge Suites Tysons-McLean. The newly renovated, all-suite, extended-stay hotel is located in downtown McLean, part of the greater Tysons Corner market of Washington, D.C. continue reading →
Washington DC-based real estate investment firm Excel Group has announced its recent acquisition of the Hyatt Place Washington DC / US Capitol, a 14-story, 200-room hotel, which opened in June 2014. continue reading →
Hersha Hospitality Trust (NYSE: HT) announced the Company closed on the sale of the 203-room Courtyard by Marriott in Alexandria, VA, and the 120-room Residence Inn in Greenbelt, MD for $62.0 million. continue reading →
The price represents a 15.7x multiple on the Hotel's 2015 EBITDA and a 5.5% capitalization rate on 2015 net operating income. In addition to the purchase price, the Company retained the approximately $3.1 million balance in the hotel's capital expenditure reserve account. continue reading →
A definitive agreement has been signed and the transaction is expected to close on the 99 room boutique hotel by mid-October, subject to customary closing conditions. RLHC will enter into a long term agreement to manage the property as a Hotel RL. continue reading →
Hersha Hospitality Trust (NYSE: HT) yesterday announced the Company has entered into a purchase agreement for the 155-room St. Gregory Hotel & Suites in Washington, DC for $57.0 million. continue reading →
MetLife, Inc. (NYSE:MET) today announced that it has acquired the Fairmont Hotel in Washington, D.C., for $180 million from Ivanhoé Cambridge. The 415-room Fairmont has a four diamond rating from AAA and is one of the premier luxury hotels in the nations capital. continue reading →