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November 06, 2019  

Washington's Mayflower Hotel Up for Grabs

Rockwood Capital is seeking a buyer for Washington’s historic Mayflower Hotel, which is valued at a steep discount to what the fund operator paid a dozen years ago.First-round bids for the 581-room hotel will be collected within three weeks, and expectations are that they’ll land in the vicinity of $310,000/room, or $180 million. Hodges Ward Elliott is the broker.The estimated price, indicating a 6% annual yield, is sharply lower than...

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