Capitol Heights’ La Quinta Inn Auctioned Off for $10M
A private investor acquired La Quinta Inn & Suites DC Metro Capitol Beltway, a 174-room hotel in Capitol Heights, Md., for $10.45 million via auction.
The previous owner was Vishnu Patel of Via Investment, who acquired the hotel in 2017 for $8.2 million, according to public records.
Marcus & Millichap (MMI) represented both sides in the deal.
“This asset was sold on the auction platform to a local buyer and out-of-state partner,” Jack Davis, senior vice president investments for Marcus & Millichap, told Commercial Observer. “The buyers are going to be hands on, increase sales and marketing efforts, and increase the revenues.”
Located at 55 Hampton Park Boulevard just off the Beltway, the property is within 30 minutes of Washington, D.C., and offers easy access to both Ronald Reagan Washington National Airport and Dulles International Airport.
Joining Davis on the deal were Chase Dewese, Joce Messinger and Josh Williams of the Marcus & Millichap’s Charleston office. Maryland broker of record Brian Hosey assisted in closing the deal.
Keith Loria can be reached at Kloria@commercialobserver.com.