Publications

Transactions - MAY 11, 2016

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

D.C. hotel sells for $310m

by Andrea Waitrovich

Oaktree Capital Management and Clearview Hotel Capital are in contract to acquire the Hilton Washington hotel in Washington, D.C. The sellers are Lowe Enterprises and Canyon-Johnson Urban Fund, managed by Canyon Partners. Eastdil Secured represented the sellers.

According to Real Capital Analytics, the sales price is $310 million, which is an increase from the $290 million price the sellers paid in 2007.

The Hilton Washington hotel comprises 1,119 rooms. It underwent $150 million in renovations.

The Washington, D.C., hotel sector experienced a drop in sales volume during first quarter 2016, according to RCA. Only one hotel was sold, for $106.5 million, a significant drop compared with the $276 million in sales activity during fourth quarter 2015. But thus far this quarter, five hotel sales have been announced, totaling more than $713 million, making it the highest quarterly sales volume in recent years.

The U.S. hotel market’s transacti

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy