RICHMOND MARRIOTT HOTEL SELLS FOR $53 MILLION

by admin

RICHMOND, VA. — Richmond-based Apple REIT Seven has acquired the Richmond Marriott Hotel, an 18-story, 401-room property in downtown Richmond, from The Procaccianti Group, for $53 million. The hotel is connected to the Greater Richmond Convention Center and features more than 27,000 square feet of meeting space and two restaurants. Amenities include three concierge levels, an indoor pool, fitness center and business center. Rob Koger and David Altobello of Vienna, Va.-based Molinaro Koger represented the sellers in the transaction. The hotel will be managed by White Lodging and retain the Marriott flag.

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