Downtown Baltimore hotel sells for $18.6M to D.C. investors

Another downtown hotel has changed hands. The Kimpton Hotel Monaco Baltimore Inner Harbor recently sold Douglas Development Corp., an investment group from Washington, D.C., for $18.6 million. The group is planning to spend $6.5 million to upgrade and renovate the property at 2 N. Charles St., the firm said in a release on Monday. The seller was an affiliate of Stonehill Strategic Capital, and CBRE brokered the deal.