Holliday Fenoglio Fowler closed the $111 million sale of and arranged acquisition financing for Liaison Washington Capitol Hill, a 343-room hotel in the Capitol Hill submarket of Washington, D.C.
HFF marketed the property on behalf of the seller, Pebblebrook Hotel Trust. A partnership between Metrovest Equities Inc. and BLDG Management purchased the hotel unencumbered of existing brand and management.
Additionally, working on behalf of the partnership, HFF placed a 75-percent loan-to-cost floating-rate bridge loan with a major life insurance company.
The hotel is at 415 New Jersey Avenue 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. Convention Center and nearly 150 million square feet of office space and 100 embassies.
The buyer 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.
The HFF investment advisory team was led by senior managing director and head of HFF’s hotel group Daniel C. Peek and senior director Cyrus Vazifdar.
“It was a true privilege to represent the Pebblebrook team on this transaction,” Peek said. “They are best in class and a group we have long admired in the industry.”
The HFF debt placement team representing the borrower consisted of managing director Scott Aiese and senior director Chris Hew.
“We’re excited to see YOTEL enter Washington D.C. and believe the flag will achieve significant market share with its target clientele in this unparalleled location, just steps from the United States Capital,” Aiese added.
HFF brokers sale, finance for Capitol Hill hotel
