WASHINGTON, DC-Grasshopper Hospitality LLC, has acquired the Eldon Luxury Suites in the District for an undisclosed price. The eight-story boutique hotel is located at 933 L St., NW. It was originally built in 1926 as an apartment building; the historic structure was then restored and it re-opened in March 2009 as an upscale hotel. The hotel has 50 suites that range from 650 to 1500 square feet.

Hotel Brokers International and Donohoe Real Estate Services brokered the sale. Bill Moyer and Charlotte Seale of Donohoe Real Estate Services Hotel Brokerage represented the buyer in the deal. The transaction went smoothly, Searle says in a prepared statement. "The transaction required a buyer with the ability to close quickly," he notes. "We've sold three hotels to this investor and knew they were well qualified and able to meet the seller's time constraints.”

Hotel trades in the District are few and far between, with independent boutique sales a downright rarity. More typical deals would be Carr Hospitality’s and InterContinental Hotels Group’s plans to build a four-star, 268-key hotel in the District’s Southwest waterfront or Chesapeake Lodging Trust’s acquisition of Courtyard Washington Capitol Hill/Navy Yard hotel in Southeast DC for $68 million.

There is, of course, some history of boutique sales. One such trade occurred last November: Georgetown Inn, a hotel consisting of 96 newly-renovated European-style guest rooms, was sold by Blackstone Group. That trade followed the Hotel Monticello sale in an off-market transaction.