REBusinessOnline

Electra America Hospitality Group Acquires Hotel from George Washington University in D.C., Plans $30M Renovation

WASHINGTON, D.C. — Electra America Hospitality Group, a joint venture between investment firm Electra America and extended stay hotelier AKA, has purchased One Washington Circle, a 152-room hotel in Washington, D.C. George Washington University (GWU) sold the hotel to the buyer for an undisclosed price. Savills USA represented GWU in the transaction. The new ownership plans to undertake a $30 million renovation to the asset and reopen in June 2023 as an AKA-branded development that specializes in weekly and monthly stays. Built in 1964 and renovated in 2003, the nine-story hotel is situated in D.C.’s West End neighborhood near GWU’s main campus, George Washington University Hospital, Foggy Bottom Metro Station and major institutions including World Bank and IMF.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties