CIM Group Acquires the 254-Room Crowne Plaza Hotel Alexandria, Virginia

Main Photo: The Crowne Plaza Alexandria

Date: March 2019

Location: North Fairfax Street in Old Town Alexandria, Virginia, USA

Name: The Crowne Plaza Old Town Alexandria

No. of Keys: 254

Seller: TBA

Buyer: The CIM Group acquired the hotel with Carr Companies.

CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than $60 billion of projects in communities across the Americas on behalf of its own account and for its partners and co-investors. CIM was founded by Shaul Kuba, Richard Ressler and Avi Shemesh.

Carr is a “family” owned company founded by Arthur Carr in 1918. Carr has been building homes, workplaces, hotels and places to shop for more than a century, headed up by Austin Flajser, President.

The Carr Companies maintains ownership and management interests in over 40 executive suite, hotel, commercial and retail assets in 8 markets across the country, with properties such as InterContinental Washington DC, Willard InterContinental and others in Washington and Alexandria.

The hotel is situated on the Potomac River and boasts panoramic views of the Potomac River and Montgomery Park. The hotel also sits adjacent to the Mount Vernon Trail to the east, a popular walking and biking trail that connects George Washington’s Mount Vernon to Theodore Roosevelt Island, and is another outdoor amenity bordering the property.

The property is located just a few blocks from King Street, which offers an abundance of independent galleries, stylish boutiques and national retailers within a colonial waterfront setting.

901 N. Fairfax is easily accessible from key highways, with direct access from the George Washington Memorial Parkway, Route 1, and is near the Capitol Beltway (I-495).

The property is also situated less than a mile from the Braddock Road Metro Station and five blocks from the Potomac River Boat Company Water Taxi, which provides access to Georgetown, National Harbor, and the Wharf. Additionally, Reagan National Airport is less than a 4 mile ride.

Price: Undisclosed

THPT Comment: Carr building up quite a portfolio of class hotels around the White House!

First Seen: Hotel Online

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