WASHINGTON, DC— Harrisburg, PA-based Hersha Property Trust has found the hotel market in Washington DC hospitable enough to make another acquisition following its June 2015 acquisition of the St. Gregory Hotel for $57 million.

The REIT has acquired the Ritz-Carlton Georgetown, located at 3100 South St., NW. It paid $32.5 million, according to public records, $377,907 per key to the Millennium Partners in New York City.

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