Hilton Washington North Gaithersburg Sells, to Be Turned Into a DoubleTree
New York City-based real estate investor Alfred Weissman Real Estate has purchased Hilton Washington North Gaithersburg in Maryland, according to NKF Capital Markets. The new owner plans to turn the Hilton, at 620 Perry Parkway, into a DoubleTree hotel. Neither Alan Weissman, a principal at Alfred Weissman Real Estate, nor a NFK spokeswoman would disclose the purchase price.
Weissman told Commercial Observer that the deal closed on July 18. He said his firm plans to fully renovate the 301-room hotel, which sits on eight acres. He said the property was appealing because of its proximity to the I-270 highway and location in a “booming” area of Gaithersburg, Md. The hotel will target corporations along the growing I-270 corridor, according to a an NKF press release.
NKF Capital Markets’ Andy Kern, Edward Goldmeier, David Altobello and Michael Meller brokered the sale.
“Interest in the Hilton property was strong given the location in the Washington, D.C. metro area and the tremendous post-renovation upside of this institutional-quality asset,” Kern said in a prepared statement. “The hotel has 15,600 square feet of conference space which provides the best meeting facilities in the market for corporate or social needs.”
Weissman Real Estate did not have a broker in the deal.