Live Breaking News & Updates on Bisnow Andrew Martinez

Stay updated with breaking news from Bisnow andrew martinez. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.

Hersha Hospitality Trust Sells D.C., Boston Hotels


The Capitol Hill Hotel at 200 C St. SE
Hersha Hospitality Trust is continuing with its strategy of selling hotels as the industry reaches a full year since the coronavirus pandemic disrupted its business. 
The REIT sold the 153-room Capitol Hill Hotel in D.C. for $51M and the 112-room Holiday Inn Express in Cambridge, Massachusetts, for $32M, a Hersha spokesperson tells
Bisnow.
Hersha announced Tuesday it sold the hotels for net proceeds of $58M. The Hersha spokesperson said the net proceed figure reflected the combined sale prices minus the outstanding debt on the D.C. hotel. 
Hodges Ward Elliott announced Thursday it brokered the sales. The parties didn t disclose the buyer, and the sales haven t been posted in D.C. or Massachusetts property records.  ....

New York , United States , Coconut Grove , San Diego , United Kingdom , Capitol Hill , District Of Columbia , Lechmere Square , Jay Shah , Cyrus Vazifdar , Bisnow Andrew Martinez , Ashish Parikh , Hersha Hospitality , Goldman Sachs , Capitol Hill Hotel , Hospitality Trust , Holiday Inn Express , Dward Elliott , O Brien Highway , Managing Director , Real Deal , Mack Real Estate , Chief Financial Officer Ashish Parikh , Holiday Inn , Hersha Hospitality Management , Hodges Ward Elliott ,