Embassy Suites by Hilton at the Chevy Chase Pavilion near Friendship Heights Metro has sold at a foreclosure auction.
PCCP LLC bid $12.25 million for the property at the sale, conducted by Alex Cooper Auctioneers, reported the Washington Business Journal. PCCP retained Alex Cooper after the hotel’s owner, an affiliate of Philadelphia’s Arden Group, allegedly defaulted on a $44.9 million loan it received as part of its January 2018 acquisition of the property at 4300 Military Road NW.
Embassy Suites by Hilton at the Chevy Chase Pavilion is a 198-room hotel with 6,400 square feet of event space. The hotel is part of the Chevy Chase Pavilion, a mixed-use project located on top of the Friendship Heights Metro Station. Constructed in 1990, the building is comprised of the Embassy Suites hotel, 155,305 rentable square feet of retail space, and a 204,621 square foot nine-story office tower.
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