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Union Investment Acquires Thompson Hotel in D.C. for $120M
Germany-based Union Investment has acquired the Thompson Washington D.C., a 225-room hotel in Washingon D.C.’s Navy Yard. The sales price was $120 million.
Located in the Capitol Riverfront neighborhood within the 42-acre mixed-use development of historic Navy Yard, the hotel is adjacent to the Anacostia River and Nationals Park. The hotel features three restaurant and bar concepts by Danny Meyer’s Union Square Hospitality Group, and more than 7,000 square feet of indoor and outdoor space for meetings and events. The hotel opened on January 8, 2020.
The seller was Geolo Capital, the private equity investment arm of the John Pritzker family office. Geolo developed the hotel as part of a joint venture with Boston-based JW Capital Partners. Following the sale, the joint venture will remain a long-term tenant, leasing the property back from Union Investment and overseeing management of the hotel. The property will continue to be operated as a Thompson Hotel.
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
