The Graham Georgetown

PROPERTY CHARACTERISTICS

• 57 room boutique hotel • Located in one of the country’s most historic neighborhoods, less than a block from a major retail corridor lined with boutiques, cafés and restaurants

ACQUISITION

• November 2011

INVESTMENT OPPORTUNITY

• Sourced off-market from owner-operator • High barriers-to-entry submarket, split into budget and luxury segments • Expansive rooftop views of Washington, DC and Potomac River, but no existing entitlements for public-access bar/lounge

EXECUTION

• Led a multi-million dollar renovation and repositioning into a boutique lifestyle hotel targeting an underserved segment in Georgetown • Added 19 hotel rooms • Entitled the rooftop to allow for Georgetown’s only outdoor rooftop cocktail lounge open to the public • Sold in Jun-2016 for $649,000 per key, one of the highest per-key transactions ever in the Washington, D.C. market, and exceeded a nearby Ritz-Carlton