Marriott Wardman park
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| Location: | Washington, DC |
| Rooms: | 1,330 |
| Equity Invested: | $227 MM |
| Proceeds: | $300 MM |
Investment Results
- 17.0% IRR
- 2.4x multiple on invested equity
- Sold at $75mm profit
Opportunity
- Acquired below replacement cost
- An underperforming hotel
- Tired product
Value Added
- Upgraded key tower
- Upgraded common area
- Built a leisure component with cutting-edge internet marketing
