The nine-story hotel has 210 rooms and more than 2,500 sf of meeting space. The property opened on May 31, and is being operated by an affiliate of Marriott International Inc. under a long-term managementagreement.
"This acquisition will provide additional growth to our existing portfolio of high-quality assets and benefit from the barriers-to-entry that exist in this mixed-use location over the long term," says James L. Francis, Highland's president and CEO, noting that it is located along the 1-270 tech corridor and is part of the mixed-use Washingtonian Center development project.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
