Homewood Suites Hotel, 465 New York Avenue, Washington, DC
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The hotel at 465 New York Avenue, located just three blocks from the DC Convention Center, is an exemplary development execution of site that was too constrained for condominium or apartment development. Ceres Capital arranged the acquisition and capital structuring of the transaction with the Magna Group which developed the property. Ceres and its partners were also investors with the development team. The Homewood Suites was sold in 2018 at a then record price for a DC limited service hotel.