Pebblebrook under contract to sell Topaz Hotel for $33M
Daily Record Staff//October 8, 2019//

A Bethesda real estate investment trust has a contract to sell a 99-room hotel for $33 million in Washington, D.C.
Pebblebrook Hotel Trust said the sale price of the Topaz Hotel reflects a 19.5 times EBITDA multiple and a 4.4% net operating income capitalization rate based on the hotel’s performance in 2018. The company wouldn’t reveal the buyer to The Daily Record, citing a nondisclosure agreement.
Pebblebrook expects the sale to close before the end of the year, subject to normal conditions.
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