10-29-2013 03:09 PM

Lorien Hotel & Spa trades for $45 million


Oak Brook, Ill.-based Inland American Lodging Group has paid $45 million for the Lorien Hotel & Spa in Old Town Alexandria.




One of Old Town Alexandria's top-rated hotels has traded for $45 million, or roughly $5 million less than it cost to build the 107-room property.
Suburban Chicago-based Inland American Lodging Group Inc. recently bought the Lorien Hotel & Spa from the DSF Group, a Massachusetts-based company that developed the hotel at 1600 King St. back in 2008. Inland plans to retain Kimpton Hotels & Restaurants as the hotel's management firm.
The Lorien is Inland's 10th hotel acquisition this year as the firm focuses on well-located, luxury hotel properties across the country.
"We are thrilled that we were able to acquire another high quality and desirable luxury asset this year in a major market like Washington, D.C.," said Philip Wade, Inland's senior vice president of investments.
The Lorien, just two blocks from the King Street Metro, was named among Condé Nast Traveler's top 100 worldwide hotels in 2012.
Daniel J. Sernovitz covers commercial real estate.


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