The Courtyard by Marriott Dupont Circle has been sold for $52.4 million by Capstone Development to an out-of-town group. The hotel at 1900 Connecticut Ave. NW was purchased by Generator DC Propco LLC of Delaware. The asset has been held since 2013 by Capstone since acquired in 2013 for $42.8 million.
No word on the reason for the sale, but we imagine they are taking profits and raising cash as they prepare to open a much larger hotel project in red-hot Shaw. They are partnered with Quadrangle Development on the Columbia Place project at Ninth & L Streets, NW, a site with a 310 room Marriott and 230 room Residence Inn by Marriott delivering at year end or in early 2019.
The Courtyard Marriott Dupont Circle underwent major renovations by Capstone in 2014, with lobby, room, parking deck and exterior renovations. The building looks almost completely different on the outside than it did prior to their past acquisition. The amenities package includes a fitness center, pool, meeting facility and The Bistro for casual morning dining and cocktails at night.