Crestline takes over management responsibilities from the Melrose Hotel Co., a subsidiary of BPG Properties—formerly the Berwind Property Group--which is the company that sold the 240-room hotel to the lodging REIT. Berwind had purchased the Melrose back in 2000 when it was known as the Wyndham and invested more than $10 million in a comprehensive renovation that reached completion in 2001.

Located at 2430 Pennsylvania Ave., the Melrose sits just a block from Georgetown and on the outskirts of Foggy Bottom and the West End area. The boutique property features 5,000 sf of meeting and banquet space, as well as a restaurant, bar, fitness facility and business center. Neither Highland nor Crestline has released information about potential changes to the property.