Luxury Resort In Washington, D.C. Trades To New Owner
WASHINGTON, DC–JLL’s Hotels & Hospitality Group announced today the completion of the sale of and arranged acquisition financing for the Mandarin Oriental, Washington D.C., a 373-key, luxury resort in Washington, D.C.
JLL marketed the hotel on behalf of the seller, Mandarin Oriental Hotel Group International Limited, in the sale to London-based private equity real estate manager Henderson Park.
The nine-story superior luxury hotel was built in 2004 and has been well-maintained with significant guestroom and public space renovations in the last six years. The property overlooks D.C.’s southwest waterfront and is positioned within close proximity to D.C.’s largest demand drivers.
The exclusive waterfront location positions the property as a destination resort within downtown D.C., unmatched by any other hotel within the submarket. With the Tidal Basin in the posterior of the property, the Mandarin Oriental D.C. offers panoramic views of the scenic reservoir encompassed by the famed cherry blossoms.
New ownership will rebrand the hotel as Salamander Washington D.C., under the management of Salamander Hotels & Resorts.
The JLL Hotels & Hospitality team working on behalf of the seller was led by Global CEO Gilda Perez-Alvarado, Senior Managing Director Jeffrey Davis and Executive Vice President Stephany Chen, while the acquisition financing on behalf of the borrower was led by Mark Fisher.
“Washington D.C. continues to be a highly coveted global investment market, ranking fourth behind London, New York and Tokyo in terms of liquidity year-to-date,” Perez-Alvarado stated. “Despite capital markets headwinds, we continue to see strong global demand for extraordinary hotel assets such as the Mandarin Oriental Washington D.C. given favorable industry fundamentals.”
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.