Friday, November 04, 2016

DoubleTree Bethesda hotel sold

Pebblebrook Hotel Trust just announced this morning that it has closed on the sale of the DoubleTree Bethesda hotel, located at 8120 Wisconsin Avenue. The sale price of the 270-room hotel was $50.1 million, and the deal closed on Wednesday.

“We are pleased with the sale of the DoubleTree Bethesda,” Jon E. Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust said in a statement this morning. “This marks the third hotel sold under our strategic disposition plan that we initiated earlier this year. Following the sale of the DoubleTree Bethesda and the execution of our Manhattan asset exchange agreement, our strategic disposition plan has generated almost $250 million in gross proceeds. These property sales allow us to take advantage of the value differential seen across our portfolio between the public and private markets. We continue to remain confident in the buyer interest shown by a wide variety of both domestic and international hotel investors, particularly for high-quality, unencumbered hotels.”

The company says it will use the sale proceeds to reduce outstanding debt.


Anonymous said...

This is false information

Anonymous said...

Hey, 7:43. I read it a couple days ago. It's a press release.
Why do you say it's false?

Anonymous said...

Here is the press release:

Anonymous said...

It's odd that Dyer won't allow comments on the article about the pop-up sweater store.

Because it's odd to have retail on the third floor of a building like that. Does the business have the proper permits?