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Washington DC  + DC  + Hospitality  | 
Moxy Washington hotel in Washington, DC

Douglas Development Sells Two DC Hotels for Combined $152M

Douglas Development has closed on the sale of two hotels in Washington, DC to Dauntless Capital Partners for a combined $152 million. Miles Spencer and Greg Morgan of Newmark represented the seller in both transactions.

The 200-room Moxy Washington on K Street was sold for $86 million. Douglas Development broke ground on the property in 2016. The Moxy then opened in November of 2018 to serve the city’s younger community and travelers.

The 143-room Courtyard by Marriott Washington in Dupont Circle was sold for $66 million. Douglas Development acquired the property as a 99-room Kimpton Hotel from Pebblebrook Hotel Trust in 2019 and re-developed the property; it opened in November of this year.

Other hotels in Douglas Development’s portfolio include the 240-key AC Hotel by Marriott, in Washington, DC and a recently acquired 400-key Hyatt in Buffalo, NY.

Photo: Moxy Washington

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition