Hersha Hospitality Trust Sells D.C., Boston Hotels

Hersha Hospitality Trust is continuing with its strategy of selling hotels as the industry reaches a full year since the coronavirus pandemic disrupted its business. 
The REIT sold the 153-room Capitol Hill Hotel in D.C. for $51M and the 112-room Holiday Inn Express in Cambridge, Massachusetts, for $32M, a Hersha spokesperson tells Bisnow.
Hersha announced Tuesday it sold the hotels for net proceeds of $58M. The Hersha spokesperson said the net proceed figure reflected the combined sale prices minus the outstanding debt on the D.C. hotel. 
Hodges Ward Elliott announced Thursday it brokered the sales. The parties didn’t disclose the buyer, and the sales haven’t been posted in…

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