Host Hotels and Resorts LP, a Bethesda, MD-based real estate investment trust, acquired the 12-story Grand Hyatt Washington Hotel in Washington, DC, from Quadrangle Development Corp. for $400 million or $450,450 per room.
The 888-room Grand Hyatt Washington Hotel delivered in 1986 at 1000 H St. NW in Penn Quarter. The hotel includes five restaurants and bars, an indoor swimming pool, 32 meeting rooms, wedding and event planning services and an executive business center.
Arthur Adler, Robert Webster and John Nugent of Jones Lang LaSalle represented the seller.
Please see CoStar COMPS #2510745 for more information on this transaction.