In the case of the Capella-now-Rosewood Washington, the property “feels like an exquisitely appointed private residence,” says Bruce F. Bradley, president of Castleton Holdings, in a prepared statement.

“When we originally acquired the historic office building, we immediately knew the location presented a unique opportunity to achieve something spectacular, providing immediate access to the heart of vibrant Georgetown, while simultaneously serving as a quiet retreat,” he said.

RobertDouglas, a real estate investment banking firm that raises debt and equity for the hotel sector, advised Castleton Hotel Partners on the sale. GlobeSt.com asked CtF to comment on the transaction and its future plans but did not receive a response in time for publication.

WASHINGTON, DC—Locally-based CtF Development has acquired the ultra-luxury hotel in Georgetown, Capella Washington, for $65 million or $1.3 million per room. It plans to convert the 59,800 square foot hotel, located alongside the C&O Canal, into a Rosewood flag. Currently there are 49 guest rooms and suites.

This would be the first Rosewood hotel for Washington DC; indeed the Rosewood Hotels & Resorts manages only 19 luxury properties in 11 countries, with 16 new properties under development.

Castleton Holdings, which opened the hotel in 2013 along with Horst Schulze, founder and CEO of Capella Hotels & Resorts, is the seller. ICG Properties LLC was also an early equity partner in the development of the property.

Rosewood's particular brand is a “Sense of Place” meaning that each hotel it manages reflects the individual location's history, culture and sensibilities.

In the case of the Capella-now-Rosewood Washington, the property “feels like an exquisitely appointed private residence,” says Bruce F. Bradley, president of Castleton Holdings, in a prepared statement.

“When we originally acquired the historic office building, we immediately knew the location presented a unique opportunity to achieve something spectacular, providing immediate access to the heart of vibrant Georgetown, while simultaneously serving as a quiet retreat,” he said.

RobertDouglas, a real estate investment banking firm that raises debt and equity for the hotel sector, advised Castleton Hotel Partners on the sale. GlobeSt.com asked CtF to comment on the transaction and its future plans but did not receive a response in time for publication.