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Holiday Inn D.C.

AEW Capital Management, L.P. announced the acquisition of a 212-room Holiday Inn located in Thomas Circle in Washington, D.C.

AEW purchased the property for approximately $25.9 million on behalf of the AEW Partners IV Fund, the fourth in a series of real estate opportunity funds offered by AEW.

The seller, Wright Investment Properties, a hotel owner/operator based out of Memphis, Tennessee. will continue to manage the hotel.

"This is an excellent opportunity to acquire a hotel in one of the top three markets in the country for hotel investment." said Marc Davidson who heads AEW's Partners Group.

"The DC metropolitan hotel market has historically been one of the strongest urban markets in terms of occupancy."
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Oct 6, 2004
Words:119
Previous Article:Bright spark.
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