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Thompson Hotels Bringing Luxury Brand to The Yards

Union Investment to Acquire 225-Room Capitol Riverfront Hotel Upon Completion in Early 2020 for $120 Million
March 5, 2018
Boutique hotel management company Thompson Hotels is bringing a Thompson-branded hotel to The Yards - the first hotel slated for the mixed-use development in Southeast D.C.'s Capitol Riverfront.

Its first location in the District, the 11-story Thompson D.C. hotel will feature 225 rooms, including 38 suites, 4,000 square feet of meeting and event space, a signature restaurant and a rooftop bar. It is scheduled to break ground next year at the corner of 3rd and Tingey streets a block south from the Navy Yard metro station, and deliver in early 2020.

Upon its completion, ownership of the hotel will be transferred to Germany-based Union Investment, which agreed to acquire the hotel for approximately $120 million. The company currently holds four other hotel investments in the U.S., and 66 hotels worldwide.

The Thompson D.C. hotel will be added to the portfolio of open-ended real estate fund, UniImmo: Global. The hotel will then be leased to a joint venture of Geolo Capital, the San Francisco-based private equity investment arm of the John A. Pritzker Family Office, and Boston-based real estate investment group JW Capital Partners, for a term of 30 years.

The vendor, developer and future operator of the property is Gone Yard Hotel Owner, LLC.

The Thompson hotel is the second slated to hit D.C.'s Capitol Riverfront area in 2020. This week, Cambria Hotels said it engaged Koucar Management out of Michigan to develop a 154-room hotel at 69 Q St. SW. Construction on that project is slated to begin next year.

New York City-based Thompson Hotels currently operates 10 hotels across the U.S. and Mexico.
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