Park Hotels & Resorts Sells Hotel Portfolio In San Diego And Washington, DC For $149M

Two hotel properties have recently been sold in separate transactions in San Diego and Washington, DC. The first property is located at 509 Ninth Ave. in San Diego, while the second property is situated at 140 L. St. SE in Washington, DC. Both properties are characterized as hotels.

Summary of transaction details

• Property Type: Hotel
• Sale Price: $149,000,000
• Units: 414
• Price per Unit (PPU): $360,000

Park Hotels & Resorts, represented by Thomas J. Baltimore, Jr., sold the properties for a combined sale price of $149,000,000. The hotels consist of a total of 414 units, resulting in a price per unit of $360,000.