The Graham Georgetown

Washington, DC

Property Characteristics

  • 57 room boutique hotel
  • Located in one of the country’s most historic neighborhoods, less than a block from a major retail corridor lined with boutiques, cafés and restaurants

Acquisition

  • November 2011

Investment Opportunity

  • Sourced off-market from owner-operator
  • High barriers-to-entry submarket, split into budget and luxury segments
  • Expansive rooftop views of Washington, DC and Potomac River, but no existing entitlements for public-access bar/lounge

Execution

  • Led a multi-million dollar renovation and repositioning into a boutique lifestyle hotel targeting an underserved segment in Georgetown
  • Added 19 hotel rooms
  • Entitled the rooftop to allow for Georgetown’s only outdoor rooftop cocktail lounge open to the public
  • Sold in Jun-2016 for $649,000 per key, one of the highest per-key transactions ever in the Washington, D.C. market, and exceeded a nearby Ritz-Carlton

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