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Washington DC  + DC Metro  + Hospitality  | 
RiverBrook Equities has acquired the Holiday Inn Express & Suites Williamsburg in Williamsburg, VA.

RiverBrook Equities Acquires Williamsburg Hotel as Part of $30M Hospitality Portfolio Buy

RiverBrook Equities has acquired the Holiday Inn Express & Suites Williamsburg in Williamsburg, VA as part of a three-property portfolio purchased for a combined $29.8 million.

The other properties in the portfolio are the Allentown Park Hotel by Choice Hotels in Allentown, PA and the Travelodge by Wyndham in Philadelphia, PA.

RiverBrook funded its acquisition with a debt package of $18.6 million arranged by a Meridian Capital Group team of Morris Betesh, and Alex Bailkin.

The Holiday Inn Express & Suites Williamsburg features 118 guest rooms and is minutes from historic colonial Williamsburg and 25 minutes away from Williamsburg International Airport.

“We believe in the limited-service hospitality sector, and we capitalized on the opportunities presented to us,” said Steven Mendel, COO of RiverBrook Equities. “We expect the full recovery of the industry and are looking forward to continuing to expand our portfolio with similar add-on acquisitions.”

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Inside The Story

RiverBrookEquities’ Mendel

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
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