Holiday Inn Brings in $26M

WASHINGTON, DC-In a deal valued at nearly $26 million, Boston-headquartered AEW Capital Management LP, acting on behalf of its AEW Partners IV Fund, picked up the Holiday Inn hotel in the District’s Thomas Circle neighborhood. The hotel, located five blocks from the White House, has a FY 2005 assessed value of about $17.3 million. The seller was Memphis, TN’s Wright Investment Properties.

“This is an excellent opportunity to acquire a hotel in one of the top three markets in the country for hotel investment,” says AEW Partners Group head Marc Davidson. “The DC metropolitan hotel market has historically been one of the strongest urban markets in terms of occupancy.”