HFF Announces $111M Sale and Financing for Liaison Washington Capitol Hill Hotel

Apr 05, 2019 06:00 am
WASHINGTON -- 

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.

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.

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.

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 said.

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, located in 10 states and the District of Columbia, in the following markets: Del Mar, California; Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Santa Cruz, California; Washington, D.C.; Coral Gables, Florida; Key West, Florida; Naples, Florida; Buckhead, Georgia; Chicago, Illinois; Boston, Massachusetts; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington. 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. The firm has built a solid reputation as “hands-on” entrepreneurs who understand value enhancement through the repositioning and development of real estate assets. 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. 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.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

DANIEL C. PEEK
HFF Senior Managing Director
(212) 245-2425
dpeek@hfflp.com

CYRUS VAZIFDAR
D.C. Lic. #200200694
HFF Senior Director
(202) 533-2500
cvazifdar@hfflp.com

SCOTT AIESE
HFF Managing Director
(212) 245-2425
saiese@hfflp.com

CHRIS HEW
HFF Senior Director
(202) 533-2500
chew@hfflp.com

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
ksteele@hfflp.com