HREC arranges sale of Crowne Plaza in Rockville, Md.

HREC Investment Advisors arranged the sale of the 150-guestroom Crowne Plaza Hotel located in Rockville, Md.

Kevin Hanley (SVP – Washington, D.C.), Ketan Patel (SVP – Washington D.C.) and Geoff Davis (president & senior principal – New York), exclusively represented the owner.

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The property is near government complexes including the National Institute of Standards and Technology (NIST), The Department of Energy, National Institutes of Health (NIH) and National Cancer Institute.

The buyer plans to convert the hotel to a Radisson Hotel affiliation, shortly after the purchase.