Sak Developers Buy National Harbor Hampton Inn for $47M

An 11-story hotel in Maryland’s National Harbor area has traded hands for a cool $47 million, according to property records. 

Ashburn, Va.-based Sak Developers purchased the 154-room Hampton Inn & Suites at 250 Waterfront Street, in Oxon Hill, Md., from seller Bre SSP Property Owner, a limited liability company tied to Blackstone (BX), property records show. 

JLL’s Ketan Patel, Philip White and Vasilis Halakos brokered the deal on behalf of the seller. 

The hotel, 10 miles south of Downtown Washington, D.C., sits across the street from the Gaylord National Resort & Convention Center, which has 550,000 square feet of conference and event space. 

Blackstone picked up the hotel in 2014 along with 18 others from OTO Development for an undisclosed amount of money, GoUpstate reported.

Meanwhile, Sak Developers have begun buying up other hotels in the Chesapeake region in recent years, including the Residence Inn by Marriott in Waldorf, Md., in 2022 and the Hilton Homewood Suites in Downtown Wilmington, Del., in 2023, according to its website. 

Representatives for Sak and Blackstone did not immediately respond to requests for comment.

National Harbor, with its bevy of resorts, shopping and entertainment options on the banks of the Potomac River, has become one of the top tourist destinations in the U.S. lately, seeing 15.2 million visitors in 2022, according to JLL. 

Nick Trombola can be reached at NTrombola@commercialobserver.com.