WASHINGTON, DC–The Bernstein Cos. was the buyer of the 270-room DoubleTree Bethesda, whose $50.1 million trade we reported earlier this month.
Pebblebrook announced it had put the property under contract at the end of October and then, days later, reported that it had been sold. Pebblebrook acquired the hotel in 2010 shortly after it went public. It paid $67.1 million for property, using the proceeds from its initial public offering.
According to a press release from JLL, which brokered the transaction, the Bernstein Cos. will manage the hotel as a DoubleTree. It also plans to reposition the property.
Jeffrey Davis and Brady Rice led the JLL team on the deal.
WASHINGTON, DC–The Bernstein Cos. was the buyer of the 270-room DoubleTree Bethesda, whose $50.1 million trade we reported earlier this month.
Pebblebrook announced it had put the property under contract at the end of October and then, days later, reported that it had been sold. Pebblebrook acquired the hotel in 2010 shortly after it went public. It paid $67.1 million for property, using the proceeds from its initial public offering.
According to a press release from JLL, which brokered the transaction, the Bernstein Cos. will manage the hotel as a DoubleTree. It also plans to reposition the property.
Jeffrey Davis and Brady Rice led the JLL team on the deal.
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