Electra America Acquires 178-Room Hotel in Old Town Alexandria
Electra America Hospitality Group (EAHG), a joint venture between Electra America and AKA, has acquired a 178-room hotel in Old Town Alexandria. The sales price was not disclosed.
Located in the middle of Old Town Alexandria, the hotel was once part of the Old Colony Inn. EAHG plans to invest roughly $36 million in the renovation of the hotel. Located at 625 First St., the hotel will be converted into a four-star hotel with a destination restaurant. The property is located within walking distance of many Old Town Alexandria shopping/dining attractions and is a short drive to the new Amazon HQ2.
EAHG also recently acquired the Roger New York, a 194-room boutique hotel in Manhattan’s NoMad neighborhood, for $19 million. Both hotels will re-open in 2022 under the AKA brand, offering a mix of short-term and extended-stay lodging options catering to the upscale leisure and corporate traveler.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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