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The new hotel at The Yards has sold in a nine-figure deal less than two weeks after it welcomed its first guests.
Hamburg, Germany-based Union Investment Real Estate GmbH acquired the Thompson Washington D.C. hotel for $111M in a deal posted Friday to the D.C. Recorder of Deeds.
Geolo Capital, which developed the hotel in partnership with JW Capital Partners, was the seller in the deal. Union Investment, which manages more than $40B in assets worldwide, according to its website, announced in March 2018 it was under contract to acquire the hotel and that the deal would close after its opening.
"Washington’s Navy Yard is already being seen as a magnet for trendsetters, with strong appeal for residential, office, retail and restaurant uses," Union Investment Head of Investment Management Hospitality Andreas Löcher said in the 2018 announcement. "The Thompson lifestyle brand is an excellent fit with this location and also with our existing hotel portfolio."
The 225-room hotel opened Jan. 8 at 221 Tingey St. SE, part of the 48-acre The Yards development, spearheaded by Brookfield. The 11-story hotel was designed by Studios Architecture and Parts and Labor Design. It features 7K SF of meeting space and two outdoor terraces.
Union Square Hospitality Group, led by New York restaurateur Danny Meyer, opened its first D.C. restaurant this month in the Thompson Hotel. The restaurant, Maialino Mare, is a Roman-style seafood trattoria. The hotel will also feature a rooftop bar, branded as Anchovy Social, which has yet to open.
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