RobertDouglas Advises Geolo Capital and JW Capital Partners on the $120,000,000 Sale of the Thompson Washington, D.C.

USA, New York, New York. January 28, 2020

RobertDouglas announced today that it advised a joint-venture between Geolo Capital and JW Capital Partners in arranging the forward-sale of the Thompson Washington, D.C. to Union Investment, a German institutional fund manager, for $120,000,000.

"The opportunity to participate in the development of the Thompson Washington, D.C. attracted a wide range of investment options. Ultimately, Union Investment offered the most attractive structure though a sale-leaseback," commented Evan Hurd, Principal and Managing Director. "Although the sale-leaseback model is commonplace in most European markets, it is still relatively unique in North America. We expect it to continue to gain traction by offering an attractive option for developers."

The 225-room Thompson Washington, D.C. is Washington D.C.'s newest luxury hotel and is located in the heart of the Yards, a 42-acre waterfront development at the center of Capitol Riverfront's Navy Yard neighborhood. One of the city's most exciting and dynamic submarkets, Capitol Riverfront is home to the Nationals Park professional baseball stadium and features 6.2 million square feet of office space, 10,000 residential units, and nearly one million square feet of retail. The Thompson Washington, D.C. is designed to be a social anchor for the neighborhood, joining dozens of specialty retailers, restaurants, high-end residences, and cultural attractions.

"Washington, D.C. is one of the most sought-after lodging investment markets in the country, driven by market-wide RevPAR rankings among the highest in the nation and a long-term track record of consistent growth. The combined strength of the exceptional sponsorship team and the burgeoning Navy Yard submarket resulted in a high degree of interest from a diverse group of well-qualified investors," said Doug Hercher, Principal and Managing Director.


Thompson Washington, DC luxury hotel
/ SLIDES

About RobertDouglas

Media Contact:

Paul Kesman
Principal
PDK PR
T: 248-321-2035
E: pkesman@pdkpr.com
W: http://www.robert-douglas.com

Subscribe to our newsletter
for more Hotel Newswire articles

Related News

Choose a Social Network!

The social network you are looking for is not available.

Close
Coming up in August 2020...

Food & Beverage: New Technological Innovations

In the past few years, hotel food and beverage departments have experienced significant growth. Managers are realizing just how much revenue potential this sector holds, both in terms of additional revenue and as a means to enhance the guest experience. As a result, substantial investments are being made in F&B operations as a way to satisfy hotel guests but also to keep pace with the competition. Though it has been a trend for many years, the Farm-to-Table movement shows no signs of abating. Hotel chains are abandoning corporate restaurants and are instead partnering with local chefs to create locally-influenced dining options. Local, farm-sourced ingredients paired with specialty beverages or local wine also satisfies the increasing demand from Millennial travelers who are eager to travel sustainably and contribute to a positive impact. A farm-to-table F&B program also helps to support the local economy, which builds community goodwill. Also popular are "Self-Serv" and "Grab & Go" options. These concepts stem from an awareness that a guest's time is limited and if a hotel can supply them with fast, fresh, food and beverage choices, then so much the better for them. Plus, by placing these specialty kiosks in areas that might be traditionally under-utilized (the lobby, for instance), they can become popular destination locations. Of course, there are new technological innovations as well. In-room, on-screen menus allow guests to order from any restaurant on the property, and some hotels are partnering with delivery companies that make it possible for guests to order food from any restaurant in the area. Also, many hotels are implementing in-room, voice-activated devices, so ordering food via an AI-powered assistant will soon become mainstream as well. The August issue of the Hotel Business Review will report on these developments and document what some leading hotels are doing to expand this area of their business.