{"id":1004108434,"date":"2014-11-26T20:29:55","date_gmt":"2014-11-27T04:29:55","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=308833"},"modified":"2020-04-23T04:48:22","modified_gmt":"2020-04-23T12:48:22","slug":"amc-delancey-sells-radisson-largo-washington-d-c-for-10-5m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/amc-delancey-sells-radisson-largo-washington-d-c-for-10-5m\/","title":{"rendered":"AMC Delancey Sells Radisson Largo-Washington, D.C., for $10.5M"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<div id=\"attachment_308836\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/11\/The-Radisson-Largo-Washington-D.C..jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-308836\" title=\"The Radisson Largo-Washington, D.C.\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/11\/The-Radisson-Largo-Washington-D.C..jpg\" alt=\"\" width=\"300\" height=\"201\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">The Radisson Largo-Washington, D.C.<\/p>\n<\/div>\n<p style=\"text-align: justify;\">A Washington, D.C.-area hotel recently changed hands. Philadelphia-based AMC Delancey sold the Radisson Largo-Washington, D.C., to an unnamed buyer for $10.5 million or $56,800 per room.<\/p>\n<p style=\"text-align: justify;\">The six-story hotel is located at 9100 Basil Court in Largo, Md. It has 184 rooms, a fitness center, an indoor pool and 2,300 square feet of flexible meeting space. According to <em><a href=\"https:\/\/www.propertyshark.com\/\" target=\"_blank\" rel=\"nofollow\">PropertyShark<\/a><\/em>, the Radisson Largo-Washington, D.C., originally built in 1990, was acquired by AMC Delancey in 2005 for almost $8.5 million. The real estate website says the \u00a0property is currently valued at about $11.5 million.<\/p>\n<p style=\"text-align: justify;\">The Marcus &amp; Millichap team that represented the seller included David Greenberg, Jonathan Ruprai and Dennis Hopper. Gordon Allred and Karianne Cibello, also of Marcus &amp; Millichap, represented the locally based buyer.<\/p>\n<p style=\"text-align: justify;\">Senior associate Jonathan Ruprai said in a news release that the hotel received numerous offers. \u201cThe seller capitalized on healthy market conditions and the opportunity to reposition to a superior brand,\u201d he added.<\/p>\n<p style=\"text-align: justify;\">Gordon Allred, first vice president of investments in Marcus &amp; Millichap\u2019s Ontario, Calif., office explained that the Radisson Largo-Washington, D.C., was acquired at a discount to replacement cost. The new owner has the option to\u00a0continue operating the property as a Radisson, rebrand it or convert it to an alternative use.<\/p>\n<p style=\"text-align: justify;\">\u201cThe industry and economic indicators are showing an uptick in the Washington, D.C., market, and the timing of this transaction was beneficial for both buyer and seller. In a market with historically tight supply and high demand, this is a win-win situation, as the new owner will be able to successfully reposition the investment in a resilient and upward-trending environment,\u201d Allred added.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credit: <\/em><a href=\"https:\/\/www.amcdelancey.com\" target=\"_blank\" rel=\"nofollow\"><em>AMC Delancey<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Washington, D.C.-area hotel has recently changed hands. Philadelphia-based AMC Delancey sold the Radisson Largo-Washington, D.C. to an unnamed buyer for $10.45 million or about $56,800 per room.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1615],"tags":[],"class_list":["post-1004108434","post","type-post","status-publish","format-standard","hentry","category-latest","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AMC Delancey Sells Radisson Largo-Washington, D.C., for $10.5M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/amc-delancey-sells-radisson-largo-washington-d-c-for-10-5m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AMC Delancey Sells Radisson Largo-Washington, D.C., for $10.5M\" \/>\n<meta property=\"og:description\" content=\"A Washington, D.C.-area hotel has recently changed hands. Philadelphia-based AMC Delancey sold the Radisson Largo-Washington, D.C. to an unnamed buyer for $10.45 million or about $56,800 per room.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/amc-delancey-sells-radisson-largo-washington-d-c-for-10-5m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-11-27T04:29:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-23T12:48:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/11\/The-Radisson-Largo-Washington-D.C..jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amc-delancey-sells-radisson-largo-washington-d-c-for-10-5m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/amc-delancey-sells-radisson-largo-washington-d-c-for-10-5m\/\",\"name\":\"AMC Delancey Sells Radisson Largo-Washington, D.C., for $10.5M - 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