Virk Hospitality Renton 2 LLC Acquires Hilton Garden Inn From Blackstone Real Estate

A Hilton Garden Inn hotel, spanning 150 rooms and located at 1801 East Valley Road in Renton, Washington, was sold by a Blackstone Real Estate affiliated entity for $17.7 million to an entity affiliated with Virk Hospitality Renton 2 LLC. The hotel was sold for a price of $237 per square foot, with a total square footage of 74,751. The transaction also included 150 keys, resulting in a price per key of $118,000.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $17,700,000
• Market: Renton, WA
• Buyer: Virk Hospitality Renton 2 LLC
• Seller: Blackstone Real Estate

The buyer, Virk Hospitality Renton 2 LLC, acquired the Hilton Garden Inn hotel in Renton, WA from Blackstone Real Estate. The seller, a Blackstone Real Estate affiliated entity, successfully closed the transaction on April 2, 2024. This sale represents a significant deal in the hotel asset market in the Renton area, showcasing the ongoing activity and interest in the hospitality industry within the region.