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* D.C. Sale: Hersha Hospitality Trust entered into a purchase agreement for the St. Gregory Hotel & Suites in Washington, D.C., for $57 million, or around $367,000 per key. The acquisition of the St. Gregory will be funded with cash on hand and proceeds from the company's $250 million senior unsecured credit facility. The acquisition includes the assumption of $25.8 million in mortgage debt that matures in September 2021. The nine-story building contains 155 rooms.
* Fund Purchase: Piedmont Hospitality Fund, LP completed the acquisition of the 127-room Hyatt Place in Jacksonville, Fla. The fund purchased the hotel for $10.75 million from Peachtree Hotel Group. The property will be managed by BPR Management, an affiliate of real estate developer BPR Properties. BPR will also be managing the brand-mandated $1 million property improvement plan to be completed over the next 30 months.
* Yuma Hampton: Marcus & Millichap announced the sale of Hampton Inn & Suites Yuma, a 90-room hospitality property located in Yuma, Ariz. The asset sold for $7.4 million.
* 26-Hotel Sale: American Realty Capital Hospitality Trust agreed to acquire a portfolio of 26 hotels for a purchase price of $351.4 million from REIT Summit Hotel Properties. The portfolio consists of 25 branded select-service and extended-stay hotels and one full-service hotel. It totals 2,793 rooms in 11 states. Flags include Fairfield Inn & Suites, Courtyard by Marriott, Hampton Inn, SpringHill Suites and Residence Inn.
* Portfolio Deal: American Realty Capital Hospitality Trust also entered into an agreement to acquire a portfolio of five hotels totaling 565 rooms for a purchase price of $92.5 million from affiliates of Wheelock Real Estate Fund, sponsored by private equity firm Wheelock Street Capital. The hotels are...