Search
 

Sources: Oaktree JV to Buy Dupont Circle Hilton for $315M

WASHINGTON, DC—A JV between Oaktree Capital and Clearview Hotel Capital are about to close, or have a contract pending, on the Washington Hilton for $281,501 per key, sources have told GlobeSt.com.

By Erika Morphy | erikamorphy | | Updated on May 10, 2016
Hilton Washington Hilton Washington
WASHINGTON, DC—The Washington Hilton, the 1,119-key hotel at 1919 Connecticut Ave., NW, is either under contract or about to be, according to two sources. The rumored price that the owner, a JV between Lowe Enterprise Investors and the Canyon-Johnson urban fund is getting for the property is $315 million, or $281,501 per key. The buyer is a JV between Oaktree Capital and Clearview Hotel Capital, both of Los Angeles. The parties in the deal did not return calls to GlobeSt.com, except for Oaktree Capital, which declined to comment. The last time the full service property, which includes 110,000 square feet of meeting space, traded was in May 2007 for $290 million. This summer Lowe Enterprises and National Real Estate Advisors will deliver a new luxury apartment tower located on the grounds of the Washington Hilton at 1901 Connecticut Ave. The 12-story 195-unit building is called The Hepburn. Designed by  Beyer  Blinder Belle , the Hepburn is a  “striking  curved  glass  building  nestled  between  the  historic Washington Hilton Hotel,” as Lowe Enterprises described the project last year. It is unclear whether the Hepburn is part of the trade.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.