The Hampton Inn & Suites National Harbor Sold for $47M 

The Hampton Inn & Suites National Harbor/Alexandria Area has been sold to Ashburn-based SAK Developers for $47 million. The hotel, located at 250 Waterfront St. in Oxon Hill, MD, was completed in 2008 and sits across from the Gaylord National Resort & Convention Center at National Harbor. The sale, which closed on March 24, amounts to roughly $305,000 per key for the 154-room hotel. 

SAK Developers, founded by Waheed Ashiq, Vipul Kapila, and Khurram Sindhu, owns hotels, restaurants, and retail properties across Maryland, Virginia, and Delaware. The company’s portfolio includes six hotels, with two additions in the last two years. The seller was an affiliate of BRE Hotels & Resorts of New York, which purchased the hotel in 2014 for $25.4 million from the original developer, OTO Development. 

The sale follows the recent sale of the AC Hotel by Marriott at the Washington Convention Center to Apple Hospitality REIT Inc. for $116.8 million. The sale was brokered by JLL with a team led by Ketan Patel, Phil White and Vasilis Halakos.

Industry leaders and power players are connecting at Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa. Don’t miss the expert’s take on where the market is headed, and what changes are on the horizon. Register Now!