AVR Realty Buys Alexandria Hotel For $72M
The Marriott Residence Inn in Alexandria has traded hands for $72M.
New York-based AVR Realty acquired the 240-room hotel at 1456 Duke St. for about $300K per room, GlobeSt reports. The hotel was previously owned by an LLC with an address registered to Marriott Business Services, according to property records. It last sold in 2007 for $81.3M.
Just two blocks from King Street, the hotel is within walking distance from the heart of Old Town Alexandria.
AVR also owns the Hampton Inn in Alexandria. Last month it acquired another 401-room hotel in Atlanta for $56M.