Ivanhoé Cambridge sells Washington hotel to MetLife for $180 mln

Ivanhoé Cambridge has sold the Fairmont Hotel in Washington, D.C., to MetLife Inc (NYSE: MET). MetLife paid US$180 million for the 415-room hotel, and is now its sole owner. Going forward, the property will be managed for MetLife by Fairmont Hotels & Resorts. Ivanhoé Cambridge, the real estate investment arm of the Caisse de dépôt et placement du Québec, said the deal brings it closer to the completion of its long-term hotel sales program.

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