WASHINGTON, D.C.
Washington, D.C.-based real estate investment firm Excel Group announced its recent acquisition of the Hyatt Place Washington DC / US Capitol, a 14-story, 200-room hotel, which opened in June 2014.
The new-build property sits squarely in the center of D.C.'s NoMa neighborhood, a 35-block district of Northeast Washington. Well-funded by private developers, NoMa is a rapidly transforming area that will see an additional 20 million square feet of new office, residential, hospitality and retail development over the coming years. Referred to as the city's "most connected" area, NoMa is highly accessible, with Amtrak, Virginia Railway Express (VRE), MARC, two Red Line Metro stops, bikesharing and I-395 access.
"It's an exciting time to be in NoMa, and we're thrilled to announce this acquisition," remarked managing partner Shoham Amin. "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 [its] continued growth.”
Hyatt Place will be Excel's closest acquisition in proximity to its headquarters—a significant move as the firm continues to expand its footprint. With a current portfolio of 17 properties, Excel Group is among the fastest-growing real estate companies in the nation, ranked third in growth by Inc magazine in 2016.
Hyatt Place Washington DC / US Capitol offers 1,600 square feet of meeting and event space.
