{"id":1004192868,"date":"2017-10-06T07:00:05","date_gmt":"2017-10-06T15:00:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004192868"},"modified":"2022-12-07T04:39:36","modified_gmt":"2022-12-07T12:39:36","slug":"waterton-enters-dc-hotel-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/waterton-enters-dc-hotel-market\/","title":{"rendered":"Waterton Enters DC Hotel Market"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004192886\" style=\"width: 374px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Waterton-Madison.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004192886\" data-attachment-id=\"1004192886\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/waterton-enters-dc-hotel-market\/waterton-madison\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Waterton-Madison.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Waterton Madison\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Waterton Madison&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Waterton-Madison.jpg?w=800\" class=\"wp-image-1004192886 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Waterton-Madison.jpg\" alt=\"The Madison, a Hilton Hotel \" width=\"364\" height=\"283\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Waterton-Madison.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Waterton-Madison.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Waterton-Madison.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 364px) 100vw, 364px\" \/><\/a><p id=\"caption-attachment-1004192886\" class=\"wp-caption-text\">The Madison, a Hilton Hotel<\/p><\/div>\n<p>Waterton, in partnership with an affiliate of Walton Street Capital LLC, acquired the former Loews Madison <a href=\"https:\/\/www.commercialsearch.com\/news\/hilton-grows-dc-presence-with-iconic-building\/\">hotel in downtown Washington, D.C.<\/a> The property was rebranded as The Madison, a Hilton Hotel, and will be managed by Hilton Hotels &amp; Resorts.\u00a0<\/p>\n<p><em>\u201cWe\u2019re excited that our first hotel investment in the D.C. market is a property with such a rich history in a prime location,\u201d<\/em>\u00a0said Nir Liebling, chief investment officer of hospitality at Waterton, in prepared remarks.\u00a0<em>\u201cThere\u2019s a tremendous opportunity here to reposition a premier destination for corporate and leisure travelers alike.\u201d<\/em><\/p>\n<p>Located at 1177 15th St. NW, the 356-key hotel features amenities such as:<\/p>\n<ul>\n<li>12,000 square feet of meeting space<\/li>\n<li>business center<\/li>\n<li>two lobby bars<\/li>\n<li>coffee shop<\/li>\n<li>fitness center<\/li>\n<\/ul>\n<h2>Historic DC property\u00a0<\/h2>\n<p>Built in 1963, the hotel originally opened as the Madison at a ceremony attended by President John F. Kennedy and has since hosted every U.S. president. In the past 15 years, the property has undergone more than $75 million in capital improvements including guestroom, meeting space and public area overhauls. The hotel last underwent a full renovation in 2012. Waterton plans on making additional upgrades to several common-area spaces on the first floor.\u00a0<\/p>\n<p><em>\u201cRealizing the growing demand for luxurious, homelike experiences in hotels, we are pleased to add The Madison to our portfolio of first-class properties,\u201d<\/em>\u00a0Ryan Lindgren, assistant vice president of hospitality acquisitions at Waterton, told <em>Commercial Property Executive. \u201cWe\u2019re always looking for value-add opportunities and in this case expect to realize an immediate operational upside as a result of our capital plan and Hilton\u2019s managing expertise.&#8221;<\/em><\/p>\n<p>The hotel is within close proximity to attractions such as the White House, National Mall, Walter E. Washington Convention Center, Thomas Circle and Midtown Center, a $650 million mixed-use redevelopment project of the old <em>Washington Post<\/em> building. The property is accessible through the Red, Blue, Orange and Silver metro lines.\u00a0<\/p>\n<p><em>Image courtesy of\u00a0Waterton<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company acquired the former Loews Madison, a 356-key downtown hotel with a rich history. The property, rebranded as The Madison, a Hilton Hotel, has undergone more than $75 million in capital improvements in the last 15 years.<\/p>\n","protected":false},"author":746,"featured_media":1004192886,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,21783,11,21742,1615],"tags":[33658,37675],"class_list":["post-1004192868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-investment","category-midatlantic","category-latest","category-washington-dc","tag-hilton-hotels-resorts","tag-waterton"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Waterton Enters DC Hotel Market - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/waterton-enters-dc-hotel-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Waterton Enters DC Hotel Market\" \/>\n<meta property=\"og:description\" content=\"The company acquired the former Loews Madison, a 356-key downtown hotel with a rich history. 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