WASHINGTON, DC-LaSalle Hotel Properties in Bethesda, MD hasacquired the Sofitel Washington, DC Lafayette Square for $95 million–the first major hotel trade in the city in more than a year. The 237-key hotel, which opened in 2002, is located in the city’s CBD at the corner of 15th and H streets. The property, managed by Sofitel, includes 17 suites, the iCi Urban Bistro, the LeBar lounge and approximately 5,500 square feet of meeting space.

Hotel trades have been a rare breed in this market. This transactionfollows a $9-million trade of a boutique hotel earlierthis month. However these sales hardly make a trend–and certainly not one in which the hotel space can connect dots to determine pricing andvaluations, David P. Fuller, principal with HVS Consulting, tellsGlobeSt.com.

These transactions “are not going to open any floodgates in terms ofhotel transactions in the DC area. Right now the DC area–particularly the District–is a sellers’ market,” Fullers says, adding that there is plenty of interest in acquiring DC area hotels–he has fielded a few offers on behalf of clients recently, from overseas investors.

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