HREC Investment Advisors arranged the sale of the 169-guestroom Comfort Inn Capital Beltway located in Beltsville, Md.
Kevin Hanley and Ketan Patel, both senior vice presidents in HREC Investment Advisors’ Washington. D.C.. office, exclusively represented the seller during the transition.
”The sale of this hotel reflects the desire of hotel investors to own assets in Washington DC metropolitan area with its diverse economic landscape. The buyers were able to recognize the value of the hotel’s location and rationalize appropriate capital expenditures to improve the customer experience and drive future cash flows,” Hanley said. The sale of the hotel attracted potential buyers from states throughout the East Coast.
The Comfort Inn Capital Beltway I-95 North is located in Beltsville, Md., approximately 20 miles from downtown Washington, D.C., and 25 miles from downtown Baltimore. Beltsville is a growing D.C. suburb, home to numerous businesses, organizations, and government agencies. The hotel is proximate to the University of Maryland, the Food and Drug Administration and the USDA Agricultural Complex.
The property offers amenities such as free Wi-Fi and parking, a seasonal outdoor pool, guest laundry facilities and a free daily breakfast. The property also has seven meeting rooms with more than 5,000 square feet of space, including two ballrooms with space enough for 120 and 125 guests, respectively. Guestrooms are furnished with TVs, a hair dryer and coffee maker.