Hunter Hotel Advisors is representing Rialto Capital in the sale of the Historic Union Trust Building in Baltimore. The 12-story building has a long tenure in Baltimore’s history and has undergone a partial conversion from office building to 100-room hotel.
“Baltimore is one of the most dynamic hotel markets in the United States, and the hotel conversion redevelopment presents a unique opportunity to transform a historically significant building and advance the ongoing revival of Baltimore’s downtown,” said Kyle Stevenson, SVP of Hunter Hotel Advisors’ Washington, D.C., office.
“This is a high-barrier-to-entry market with the opportunity to select a premium select-service or full-service flag. With a resurging neighborhood, a revitalized downtown, and the current low-supply of boutique hotels, this hotel opportunity is well positioned for an attractive sale.”
Built in 1884 by Boston-based Winslow & Wetherill, the building at 101 North Charles Street is reportedly one of only 10 structures to survive The Great Baltimore Fire of 1904 that started four blocks away.
The property joins dozens of Baltimore’s redevelopment projects in the city’s Central Business District, including nearby 10 Light Street, with construction underway to convert the 550,000-square-foot former Bank of America building to a 445-unit apartment project.
For more information, contact Steve Taylor ([email protected]) or Kyle Stevenson ([email protected]) at Hunter Hotel Advisors.