Apple Hospitality REIT Acquires 601 K Street NW Hotel In Washington, DC For $116.8M

The AC Hotel Washington DC Convention Center, located at 601 K Street Northwest in Washington, DC, was sold for $116.8 million. The transaction involved 234 keys with a price per key of $499,145. The seller, Nelson Knight, represented by Douglas Development, completed the sale to the buyer, Apple Hospitality REIT.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $116,800,000
• Address: 601 K Street Northwest
• Market: Washington, DC
• Buyer: Apple Hospitality REIT
• Seller: Nelson Knight - Douglas Development
• Keys: 234
• Price Per Key: $499,145

Douglas Development successfully sold the AC Hotel Washington DC Convention Center to Apple Hospitality REIT, a Richmond-based company, for a significant amount. The transaction marks a key move in the hospitality real estate market in the Washington, DC area.