Miami, FL-based CGI Merchant Group, LLC, has acquired the lease to the Old Post Office building in Washington, DC. There are 95 years remaining on the lease, which has been acquired with approval from owner U.S. General Services Administration.

The Romanesque Revival property on Pennsylvania Avenue opened in 1899 as DC’s main post office, later converted to a federal office building and more recently became a hotel. CGI, in partnership with Hilton, plans to relaunch the property under the Waldorf Astoria Hotels & Resorts brand.

This transaction marks the fourth hotel deal completed through CGI’s Hospitality Opportunity Fund I, LP, including The Gabriel Miami and The Gabriel South Beach.

All properties purchased and/or developed through the fund will be labeled as part of CGI’s Conscious Certified Hotels — which to aim to create an authentic experience for guests that connects the core values of the conscious traveler with positive, measurable community impact — and housed within Hilton’s portfolio of brands.