PITTSBURGH-The SpringHill Suites at Bakery Square hotel here has been sold to an affiliate of Capstone Development LLC of Washington, DC for $22.8 million.
The 110-room hotel was sold by Walnut Capital Partners of Pittsburgh and RCG Longview of New York City. The Pittsburgh Business Times reported the purchase price from public records.
Mark Popovich, a senior managing director in the Pittsburgh office of HFF, Inc., represented the property along with JLL Hospitality. He said the hotel was “quietly marketed to qualified buyers."
"Pittsburgh… is a prime market for hotels right now,” Popovich says. “Urban select service is one of the more sought-after property types.” See story in the Pittsburgh Business Times.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
