Excel Snags 200 Keys in DC
- Aug 18, 2017
Excel Group acquired the Hyatt Place Washington, D.C./US Capitol hotel. The newly-constructed asset opened in June of 2014 and sits in the center of D.C.’s NoMa neighborhood, a 35-block district of Northeast Washington. This location will be Excel’s closest property to its headquarters.
Located at 33 New York Ave. NE, the 14-story, 200-key hotel features a number of amenities, including free Wi-Fi, a business center, 24-hour StayFit gym, an outdoor rooftop pool, the a.m. Kitchen Skillet breakfast bar, 24-hour Gallery Menu and Market, Coffee to Cocktails Bar and more than 1,600 square feet of event space.
NoMa is quickly transforming and will add an additional 20 million square feet of office, residential, hospitality and retail development in the coming years. Referred to as the city’s “most connected” area, NoMa offers access to Amtrak, Virginia Railway Express (VRE), MARC, two Red Line Metro stops, seven Capital Bikeshare locations and Interstate 395 access.
“It’s an exciting time to be in NoMa, and we’re thrilled to announce this acquisition,” said Shoham Amin, managing partner at Excel Group, in prepared remarks. “As an early stakeholder in this up-and-coming area of Washington, we’re very confident in the local market’s outlook, and look forward to the continued commercial and residential growth coming to the neighborhood.”
In June, Natixis arranged a $39 million floating-rate first mortgage loan in order for Excel Group to purchase the hotel.
Image courtesy of Hyatt Place Washington, D.C./US Capitol