Metrovest Equities and BLDG Management buy D.C. hotel for $111m

A partnership between Metrovest Equities and BLDG Management purchased Liaison Washington Capitol Hill, a 343-room hotel in the Capitol Hill submarket of Washington, D.C., for $111 million. Pebblebrook Hotel Trust was the seller.

The hotel is at 415 New Jersey Ave. and is the closest hotel to the United States Capitol building. Additionally, it is within walking distance of Union Station, the National Mall, Georgetown University Law Center and the Walter E. Washington Convention Center and nearly 150 million square feet of office space and 100 embassies.

The partnership plans to convert the existing Liaison Washington Capitol Hill hotel into the YOTELPAD Capitol Hill. YOTEL is an operationally efficient, lifestyle-oriented hospitality concept, and this will be YOTEL’s first extended-stay project in Washington, D.C.

Holliday Fenoglio Fowler closed the sale and arranged acquisition financing for the transaction. Working on behalf of the partnership, HFF placed