Outside the Region: HFF completes $111 million sale/financing of Liaison Washington Capitol Hill

May 07, 2019 - Front Section

Washington, DC Holliday Fenoglio Fowler, L.P. (HFF) 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. The HFF investment advisory team was led by senior managing director and head of HFF’s hotel group Daniel Peek and senior director Cyrus Vazifdar.

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. HFF placed a 75% loan-to-cost floating-rate bridge loan with a life insurance company.

The hotel is at 415 New Jersey Ave. 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 Convention Center, as well as 150 million s/f 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 it’s first extended stay project in the area.

“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.

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