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Equis/Syndicated Equities Acquire Old Town Hotel

ALEXANDRIA, VA-This is the St. Louis-based Equis' first hotel acquisition on the East Coast.

By Erika Morphy | Updated on May 24, 2007

ALEXANDRIA, VA—St. Louis-based Equis Hospitality Management LLC and Syndicated Equities have partnered to acquire a 240-key Residence Inn by Marriott in the Old Town, Alexandria submarket. It was an off-market transaction in which the seller and acquisition price was not announced.

Michael Mullenix, CEO and president of Equis, admits that the hotel cost “a lot”, noting that the DC market in particular “can be tough to make sense of in terms of what properties trade for.”

That said, he also tells GlobeSt.com, “This was a great deal for us in that we love the Residence Inn flag and Old Town has high barriers to entry.”

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