Done Deals: HFF announces $111M sale and financing for Liaison Washington Capitol Hill hotel

Saturday, April 6, 2019

HFF announces $111M sale and financing for Liaison Washington Capitol Hill hotel

Liaison Washington Capitol Hill, a 343-room hotel
in the Capitol Hill submarket of Washington, DC

WASHINGTON, DC –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the $111 million sale of and arranged acquisition financing for Liaison Washington Capitol Hill, a 343-room hotel in the Capitol Hill submarket of Washington, D.C.

Daniel C. Peek

HFF marketed the property on behalf of the seller, Pebblebrook Hotel Trust. A partnership between Metrovest Equities Inc. and BLDG Management purchased the hotel unencumbered of existing brand and management.

Additionally, working on behalf of the partnership, HFF placed a 75-percent loan-to-cost floating-rate bridge loan with a major life insurance company.done deals

The hotel is at 415 New Jersey Avenue and is the closest hotel to the United States Capitol building. Additionally, it is within walking distance of Union Station, the National Mall, Georgetown University Law Center and the Walter E. Convention Center and nearly 150 million square feet of office space and 100 embassies.

Cyrus Vazifdar

The buyer plans to convert the existing Liaison Washington Capitol Hill hotel into the YOTELPAD Capitol Hill.

YOTEL is an operationally-efficient, lifestyle-oriented hospitality concept, and this will be YOTEL’s first extended stay project in Washington, D.C.

The HFF investment advisory team was led by senior managing director and head of HFF’s hotel group Daniel C. Peek and senior director Cyrus Vazifdar.

“It was a true privilege to represent the Pebblebrook team on this transaction,” Peek said. “They are best in class and a group we have long admired in the industry.”

The HFF debt placement team representing the borrower consisted of managing director Scott Aiese and senior director Chris Hew.

“We’re excited to see YOTEL enter Washington D.C. and believe the flag will achieve significant market share with its target clientele in this unparalleled location, just steps from the United States Capital,” Aiese added.

Scott Aiese

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust is a publicly traded real estate investment trust (“REIT”) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities.

The company owns 61 hotels, totaling approximately 14,600 guest rooms.

For more information, please visit www.pebblebrookhotels.com and follow them on Twitter at @PebblebrookPEB.

About Metrovest Equities Inc.

Metrovest Equities Inc. is a real estate investment and development firm owned by George Filopoulos.

Founded in 1996, Metrovest has completed over $1 billion of acquisition, recapitalization, development, repositioning, asset management and disposition in suburban and urban residential, office, retail and hospitality assets.

Chris Hew

The firm has built a solid reputation as “hands-on” entrepreneurs who understand value enhancement through the repositioning and development of real estate assets. Please visit
https://www.metrovest.com to learn more.

About BLDG Management

BLDG Management is a Manhattan-based, privately held real estate investment and management company in which Lloyd Goldman is the key principal.

BLDG operates a portfolio owned by its affiliates consisting primarily of residential buildings, but also includes retail, industrial and office properties.

In addition, BLDG has invested in several hotel properties including the Gurney’s Resorts.

Lloyd Goldman

The portfolio includes over 8,000 apartments and 20 million square feet of retail/office and industrial properties in over 300 commercial properties throughout the United States.