Occupying one full city block at 400 New Jersey Ave., the Hyatt Regency carries the distinction of being the largest hotel property on Capitol Hill. In addition to its guest rooms, the hotel features 35,000 sf of recently renovated meeting space, a 3,000-sf pre-function area, an exercise facility, two restaurants, two lounges and a coffee shop. Plans for a $10-million upgrade of the property are already in the works.

Blackstone's investment is likely to pay off in the immediate and distant future, with hotels--as well as most commercial properties in the District--continuing to hold or increase their value more so than such properties in many other metropolitan areas. According to Marcus & Millichap's most recent Hospitality Research Report, "the Washington, DC, market has become increasingly attractive to hospitality investors in the past two years as its economy has bucked national trends, fueled by federal government activity."