WASHINGTON and BOSTON, March 11, 2021 /PRNewswire/ — Hodges Ward Elliott (“HWE”), the premier boutique real estate capital markets advisor, announced the sale of a hospitality portfolio consisting of the Capitol Hill Hotel, a 153-room independent hotel located at 200 C Street SE, immediately adjacent to Capitol Hill, and the Holiday Inn Express & Suites Boston, a 112-room hotel located at 250 Monsignor O’Brien Highway, in Cambridge, MA.
An HWE team led by Cyrus Vazifdar, Managing Director, in addition to Jay Morrow, Managing Director, Michael Tormey, Senior Vice President and Alex Yiankes, Analyst, represented the seller, Hersha Hospitality Trust, in the transaction. Additionally, HWE’s capital markets team sourced the acquisition financing for the buyer.
“The Washington D.C. and Boston markets consistently outperform in the wake of market shocks, making both favorites of the investment community in times of crisis,” said Cyrus Vazifdar, Hodges Ward Elliott. “The Capitol Hill Hotel has a history of phenomenal performance and sits next to arguably the country’s most consistent demand generator. Similarly, the Holiday Inn Express and Suites Boston-Cambridge is incredibly well-located in the heart of Cambridge, in the epicenter of higher education and proximate to Boston’s most popular attractions. We’re pleased to announce this sale on behalf of our client, which is the latest signal that the hospitality investment market continues to improve.”
The Capitol Hill Hotel sits in the center of the Capitol Hill Historic District and is the closest hotel to the U.S. Capitol building. The property also sits across from the Library of Congress and is near the many famous Washington D.C. sites. The Holiday Inn Express & Suites Boston-Cambridge is within walking distance of the Museum of Science and Kendall Square. This hotel is also near TD Garden and the USS Constitution Museum.read full article