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Key Bridge Marriott Under Contract For $190M

A source tells GlobeSt.com that the buyer is a JV between two companies from Los Angeles.

Key Bridge Marriott

ROSSLYN, VA–Bethesda, MD-based Host Hotels & Resorts announced in its earnings call that it is under contract to sell the Key Bridge Marriott for $190 million, including $8 million for FF&E replacement funds. The sale is expected to close by the end of the first quarter 2018, subject to customary closing conditions. The buyer, according to Host Hotels, is expected to redevelop the site for retail, residential and lodging.

A source tells GlobeSt.com that the buying entity is a JV between two companies from Los Angeles.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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