WASHINGTON, DC-Chesapeake Lodging Trust has made an agreement to purchase the Courtyard Washington Capitol Hill/Navy Yard hotel situated in Southeast DC for an amount of $68 million or about $330,000 per room. The Annapolis-based hotel real estate investment trust intends to fund the acquisition by borrowing the existing mortgage debt of $37.7 million.
The 204-room hotel, situated three blocks away from Nationals Park and one block away from the Navy Yard Metro station, was constructed in 2006.For the full story, go to Washington Business Journal.
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