In October 2016, CenterSquare made an off-market preferred equity investment into two adjoining Hilton brand hotels in the vibrant submarket surrounding the Dulles Airport. The properties consisted of a 154-room Embassy Suites and a 90-room Homewood Suites in a region that was well positioned to capture considerable demand from nearby data centers and technology companies in need of hotel rooms to house traveling employees. The investment supported a successful recapitalization for a best-in-class owner-operator with a strong relationship with Hilton Hotels, at a compelling basis.
