{"id":1004209179,"date":"2018-03-06T04:16:23","date_gmt":"2018-03-06T12:16:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004209179"},"modified":"2022-12-08T14:10:55","modified_gmt":"2022-12-08T22:10:55","slug":"german-investor-to-buy-120m-dc-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/german-investor-to-buy-120m-dc-hotel\/","title":{"rendered":"German Investor to Buy $120M DC Hotel"},"content":{"rendered":"

By Barbra Murray<\/em><\/p>\n

\"Thompson<\/a>

Rendering of Thompson DC, Washington, D.C.<\/p><\/div>\n

Hamburg, Germany-based Union Investment GmbH continues to bolster its U.S. lodging portfolio with the planned acquisition of Thompson D.C., a 225-key luxury hotel project that will rise in a blossoming neighborhood of Washington, D.C. The Thompson Hotels-branded property is being developed by Gone Yard Hotel Owner LLC, a joint venture of Geolo Capital and JW Capital Partners, and upon completion, will be purchased by Union Investment\u00a0in a $120 million transaction.<\/p>\n

Thompson D.C. will sprout up 11 stories in the burgeoning 48-acre Navy Yards mixed-use district along the Washington, D.C.’s Anacostia Waterfront. The property ticks the all-important location box. \u201cWashington’s Navy Yard is already being seen as a magnet for trendsetters, with strong appeal for residential, office, retail and restaurant uses,”<\/em> Andreas L\u00f6cher, head of investment management hospitality at Union Investment Real Estate GmbH, said in a prepared statement.<\/p>\n

\"Geolo<\/a>

Rendering of Thompson DC<\/p><\/div>\n

Designed by Studios Architecture, Thompson D.C. will be a five-star hotel destination, featuring such amenities as a state-of-the-art fitness facility, meeting space, a rooftop bar and ground-level retail space that will house a premier restaurant. Thompson D.C., which will ultimately be placed in the portfolio of Union Investment\u2019s UniImmo open-ended real estate fund, will be the first hotel to open at the Navy Yard. The project is on track to reach completion in 2020.<\/p>\n

Catnip for foreign investors<\/strong><\/h2>\n

Union Investment<\/a> has quite a penchant for U.S. lodging assets, which dovetails with a current trend among foreign investors. \u201cAs the U.S. continues to garner substantial amounts of foreign capital, the global buyer landscape for hotels is evolving. We\u2019ve seen a slight pullback in outbound capital from China and a noticeable increase in investment from Europe,\u201d<\/em> Gilda Perez-Alvarado, a managing director with JLL\u2019s Hotels & Hospitality Group, wrote in a recent publication by the commercial real estate services firm.<\/p>\n

Upon closing of the Thompson D.C. transaction, Union Investment will have a collection of five U.S. hotel properties. The group includes The Godfrey Hotel Boston<\/a>, which the company acquired in 2015; LondonHouse in Chicago; Hilton Garden Inn Seattle Downtown; and Courtyard by Marriott New York Downtown Manhattan\/World Trade Center. And there\u2019s more to come.<\/p>\n

\u201cWith strong demand for modern hotels, the US hotel markets remain attractive for further investment,\u201d<\/em> Martin Br\u00fchl, chief investment officer with Union Investment Real Estate GmbH, said in prepared remarks.<\/p>\n

Images courtesy of Studios Architecture<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Union Investment GmbH has inked an agreement to acquire Thompson D.C., a 225-key project in the Navy Yards district, from a joint venture involving Geolo Capital and JW Capital Partners. The purchase will increase the company\u2019s growing U.S. lodging portfolio to five properties. <\/p>\n","protected":false},"author":969,"featured_media":1004209197,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21808,21751,21783,11,21742,1615],"tags":[37104,39247,32796,36730,35391],"class_list":["post-1004209179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-featured","category-hotel","category-investment","category-midatlantic","category-latest","category-washington-dc","tag-geolo-capital","tag-gilda-perez-alvarado","tag-jll","tag-thompson-hotels","tag-union-investment"],"acf":[],"yoast_head":"\nGerman Investor to Buy $120M DC Hotel - 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\/german-investor-to-buy-120m-dc-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"German Investor to Buy $120M DC Hotel\" \/>\n<meta property=\"og:description\" content=\"Union Investment GmbH has inked an agreement to acquire Thompson D.C., a 225-key project in the Navy Yards district, from a joint venture involving Geolo Capital and JW Capital Partners. 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