Location:
Washington, DC
Date:
January 2006 to June 2006
Primary Focus:
Due diligence, acquisition and takeover assistance
From January to June 2006, Northview Hotel Group provided due diligence, acquisition and takeover assistance to Westbrook Real Estate Partners in their purchase of the Hotel Washington. The 345-key Hotel is located on the corner of Pennsylvania Avenue and 15th Street in the heart of Washington DC, opposite the White House. The property had impressive public areas, but the guestrooms and MEP and infrastructure were in need of a major renovation. The hotel had been managed by the then current owner for 65 years, and was operating at a significant discount to its potential. Northview Hotel Group oversaw the design and construction team brought in to evaluate the opportunities to reconfigure and upgrade the physical plant. We also ran a parallel process negotiating with a select handful of hotel companies who were interested in a joint venture for the asset. Following our partner’s acquisition of the asset, Northview Hotel Group was responsible for the property’s immediate management needs, handling all aspects of the transition of ownership, and overseeing a temporary management team, which bridged the gap while the long term strategy for the asset was determined.
