Real estate investment trust Pebblebrook Hotel Trust announced on Thursday it closed on the sale of the 343-room Liaison Capitol Hill hotel in Washington, D.C., for $110 million, according to a press release.

Proceeds of the sale of the property will be used for “general business purposes which may include reducing the company’s outstanding debt,” the release states. Pebblebrook estimates its total net debt to trailing 12-month corporate earnings before interest, taxes, depreciation and amortization will be about 4.8 times by the end of the first quarter of 2019.