Pebblebrook Hotel Trust Agrees to Sell Two Hotels in Atlanta, D.C. for $331M
ATLANTA AND WASHINGTON, D.C. — Pebblebrook Hotel Trust has entered into agreements to sell both InterContinental Buckhead Atlanta and Sofitel Washington DC Lafayette Square for a combined $331 million. InterContinental Buckhead Atlanta is a 422-room hotel in Atlanta’s Buckhead district, situated 10 miles north of downtown Atlanta. The hotel sold at a 6.4 percent cap rate. Sofitel Washington DC Lafayette Square is a 237-room hotel situated a block north of The White House. The property sold at a 5.7 percent cap rate. An undisclosed third-party buyer will acquire both properties. Pebblebrook expects to close both sales by the end of the first quarter.