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Blackstone Sells Renton Hotel for $18M
A Hilton Garden Inn hotel was sold by a Blackstone Real Estate affiliated entity for $17.7 million. The buyer was an entity affiliated with Wilsonville, Oregon-based Virk Hospitality Renton 2 LLC.
Located at 1801 East Valley Road, the 150-room Hilton Garden Inn Seattle Renton spans 74,751 square feet and the hotel was developed in 1998. Situated on 2.61 acres of land in the city’s south end, the hotel is in close proximity to Interstate 405 and Washington 167 interchange.
Earlier this year, King County purchased the Red Lion Hotel located at 1 S. Grady Way in Renton for $36.2 million as part of its Health Through Housing program aimed to address homelessness and repurposing hotels and other existing buildings.
On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa.
