Washington, DC

The sale of the 191,000-square-foot, 1899 Pennsylvania Avenue is expected to close in the fourth quarter of this year.

The sale consisted of a 422-room hotel in Atlanta, GA and a 237-room in Washington DC.

JLL represented the seller in the acquisition of the fully-leased, two-building, 923,400-square-foot portfolio, along I-95.

The Embassy Suites by Hilton Washington DC Georgetown recently underwent a full renovation to all rooms and public spaces in 2016.

Brentwood, TN-based GBT Realty Corporation, which developed the properties over the past two years, sold the portfolio to a Virginia-based, private investment group that was completing a sizable 1031 exchange.

Orlando was the highest growth market for global capital, with an annual gain of 231%.

The joint-venture partnership purchased the Residence Inn by Marriott Herndon Reston for $17.25 million in an off-market transaction.

The FTC complaint alleges that, as a result of the merger, the parties would control at least 60% of the inpatient GAC hospital services market in and around North Philadelphia, and at least 45% of that market in and around Montgomery County.