Sale of Ritz-Carlton Georgetown, Washington, D.C. hotel closed by HFF
WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the Ritz-Carlton Georgetown, Washington, D.C., an 86-room, full-service, luxury hotel in the Georgetown area of Washington, D.C.
HFF marketed the property on behalf of the seller. An undisclosed buyer purchased the hotel.
The Ritz-Carlton Georgetown was renovated in 2014 and features 34 suites, including five luxury suites, as part of its 86 guest rooms. The hotel features seven indoor and outdoor function spaces totaling 6,948 square feet, a 24-hour fitness center, business center, boutique spa and two restaurant and bar options, Degrees and The Living Room. Situated in the epicenter of Georgetown, the hotel is located at 3100 South Street NW in an iconic, historic neighborhood in Washington, D.C. with high-end retail, trendy restaurants and educational centers, including Georgetown University. The hotel is just off 31st Street and steps from both M Street and Washington Harbour, a mixed-use office, retail and residential development on the Potomac River.
The HFF investment sales team representing the seller was led by director Cyrus Vazifdar in addition to senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director Denny Meikleham and director Alan Suzuki.
“Washington, D.C. is one of the most dynamic lodging markets in the country, and the next several years look extremely promising in the district as fundamental performance improves and transaction volume increases,” Vazifdar said. “With such a dearth of properties in Georgetown, it’s rare an opportunity arises to gain entrance into the market, particularly the caliber of the Ritz-Carlton.”
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.