ALEXANDRIA, VA— LaSalle Hotel Properties has acquired the Hilton Alexandria Old Town (from LNR Corp.) here in a transaction brokered by Aztec Lodging, valued at $59 million, and funded via the hotel holding company’s senior unsecured credit facility. The upscale full-service hotel is located in the heart of historic downtown Alexandria, and will reportedly continue to be operated pursuant to a Hilton franchise agreement and managed by Sandcastle Resorts & Hotels, the current manager of the hotel. The 241-room Hilton Alexandria Old Town was built in 2000 and features approximately 8,000 square feet of meeting space, including a 3,800-square-foot ballroom, an upscale restaurant, a fitness center, an indoor swimming pool and an on-site parking facility. The property is situated in the center of the City of Alexandria, on Old Town’s main street and directly adjacent to the King Street Metro Station.
