Colony Capital Sells 5-Property Hotel Portfolio In Maryland, Virginia, Texas

The Courtyard Fairfax Fair Oaks hotel in Fairfax, Virginia

A portfolio of five Courtyard by Marriott hotels in the D.C., Baltimore and San Antonio markets has just traded hands.

Colony Capital sold the portfolio of five hotels totaling 731 rooms to a partnership between Flynn Properties and EMA Lodging Group for an undisclosed price, JLL announced Thursday. The deal was secured by an HFF brokerage team prior to JLL acquiring the company July 1.

In the D.C. area, the portfolio includes the Courtyard New Carrollton Landover and the Courtyard Fairfax Fair Oaks. Colony Capital bought the hotels in 2014 for $8.5M and $10.8M, respectively, property records show.

The portfolio also includes the Courtyard Baltimore Hunt Valley, the Courtyard San Antonio Airport and the Courtyard San Antonio Medical Center.

The deal is the first acquisition in the select-service hotel market for Flynn Properties, a subsidiary of San Francisco-based Flynn Holdings. The company owns over 3M SF of commercial real estate, largely office and hotel properties, and it has a restaurant group with over 1,200 restaurants.

For Colony Capital, the deal comes less than a month after CEO Tom Barrack announced he would step down. The company last month sold a Tysons office building for a 40% loss and it is looking to sell a $5B industrial portfolio.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

Developer Pays $7M For Planned Old Town Conversion: The D.C. Deal Sheet

Ruben Cos. Says It Can't Sell, Finance Navy Yard Multifamily Project

D.C. Court Tosses Lawsuit Over Proposed Rent-Freeze Ballot Initiative

Loudoun County Moves To Pause Data Center Applications For 12 Months

Why Top-Secret Facilities Are Permeating Greater D.C.'s Office Market

Historic Brooklyn Hotel To Be Turned Into Ritz-Carlton-Branded Condos

Daniel Negari Buys Downtown LA Hotel For $34M

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

Northern Virginia Office Tower Sells For Double Its 2024 Price

Design Plans Revealed For RFK Stadium Parking Garages, Headed To Review

Security Tech Firm Plans Loudoun HQ Move: The D.C. Deal Sheet

Luxury Marriott Hotel Will Take Space In Charlotte Office Conversion