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Capital Properties Incorporated

Inn at Perry Cabin sells for $39.7 million

Inn at Perry Cabin sells for $39.7 million

The Inn at Perry Cabin, a luxurious St. Michaels hotel where parts of the movie "Wedding Crashers" were filmed, will be sold to a private real estate firm for $39.7 million.

The purchase by real estate magnate Richard Cohen's CAP Acquisitions LLC is expected to close in the next few weeks, according to real estate services firm Savills Hospitality Group, which advised on the deal. The seller, Orient-Express Hotels Ltd., will remain as manager under a 10-year agreement.

Marc Magazine, executive managing director of Savills Hospitality, said his firm approached London-based Orient-Express at the end of last summer about selling the property because Cohen, the president...