DC: Goodbye, Latham Hotel
One of Georgetown's most well-known hotels is under new ownership, as of yesterday. But will it now become one of Georgetown's most well-known multifamily buildings? (Basically, you may have to start making your own bed.) SB-Urban officially purchased the Latham Hotel yesterday from Lone Star Funds for $45.4M, according to DC public records. The M Street property's been closed since June 2012 due to water damage (if you're still there, you may have misunderstood the late check-out policy). The buyers, a venture between former Lowe Enterprises DC chief Mike Balaban and Frank Saul III, reportedly have conversion on their minds. Previous reports have stated the pair hopes to go micro-residential.