RobertDouglas Advises Castleton Hotel Partners I, Llc In The $65 Million Sale Of The 49-room Capella Washington, D.c., Georgetown
RobertDouglas announced today that it advised Castleton Hotel Partners I, LLC in the sale of the ultra-luxury Capella Washington, D.C. to an affiliate of CTF Development International for $65 million. Following the acquisition, CTF Development International plans to rebrand the hotel under Rosewood Hotels & Resorts, its first ever in the nation’s capital.
Opened in April 2013 to international critical acclaim under the vision of developer Bruce Bradley of Castleton Holdings, LLC and legendary hotelier, Horst Schulze, founder and CEO of Capella Hotels & Resorts, the world-class Capella Washington, D.C. incorporates design, furnishings, materials, and fine arts of exceptional quality. Encompassing approximately 59,800 square feet with 49 guestrooms and suites, the property is an intimate urban retreat located along the historic C&O canal in the heart of Georgetown – the upscale, high-end residential and retail district of Washington, D.C.
“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,” remarked Bruce F. Bradley, President of Castleton Holdings. “Working with world renowned designer Peter Silling and architect MichaelWinstanley, we created a hotel that feels like an exquisitely appointed private residence in large part due to the incredible attention to detail and craftsmanship of the tradesman involved - who made the vision a reality, and one that has captured the attention of international travelers and investors alike.”
“We’re honored to have a group like CTF/Rosewood recognize the value of this unique asset and include it in their international collection of iconic properties” commented Darik Elwan principal of ICG Properties LLC, an early equity partner in the development of the property.
Chris Ropko, Senior Director at RobertDouglas stated “Washington, D.C. boasts one of the most resilient lodging markets in the world with some of the strongest underpinnings to bolster sustained long-term growth. As Rosewood expands its footprint globally, this acquisition represents a marquis addition to the portfolio as the premier ultra-luxury property in one of the top gateway markets of the United States.”
“The Capella Washington, D.C. has raised the bar for ultra-luxury urban accommodations. Every corner of the Property features the very finest quality in décor and finishes, which has been recognized throughout the industry press, trade publications, and every major travel and leisure authority. The combination of the quality and intimate scale of the hotel with Rosewood’s reputation for customized service will deliver a guest experience unequaled in the market,” added Robert Stiles, Principal and Managing Director at RobertDouglas.
RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles and San Francisco that specializes in raising debt and equity capital for hotel, resort and gaming properties and lodging and leisure affiliated entities throughout North America. Founded by two of the hotel industry’s preeminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact firstname.lastname@example.org or go to www.robert-douglas.com.
About Castleton Hotel Partners I, LLC
Castleton Hotel Partners I, LLC is an affiliate of Washington, D.C. based Castleton Holdings, LLC and includes partners ICG Properties LLC, Eastern Star and Vega Management.
Founded in 1993, Castleton Holdings is a privately held real estate investment company that engages in the acquisition and development of institutional-quality real estate. Led by its Founder Bruce Bradley, Castleton leverages over 30 years of experience in the commercial real estate market as developer, investor and advisor, comprising over $1 billion in transactions across various real estate asset classes. Castleton’s most recent development activity includes the critically acclaimed 5-star Capella hotel in Washington DC, Georgetown and the new Capella-managed, 214 room, 4-star “Solis Hotel Two Porsche Drive” in Atlanta, GA, scheduled to open in August of 2017. The project will reflect Porsche’s renowned design aesthetic and adjoins their North American Headquarters and Experience Center near the Atlanta Hartsfield Jackson International Airport.
About Rosewood Hotels & Resorts
Rosewood Hotels & Resorts® manages 18 one-of-a-kind luxury properties in 11 countries, with 17 new hotels under development. Each Rosewood hotel embraces the brand’s A Sense of Place® philosophy to reflect the individual location’s history, culture and sensibilities. The Rosewood collection includes some of the world’s most legendary hotels and resorts, including The Carlyle, A Rosewood Hotel in New York, Rosewood Mansion on Turtle Creek in Dallas and Hôtel de Crillon, A Rosewood Hotel in Paris, as well as new classics such as Rosewood Beijing. Rosewood Hotels & Resorts targets to double its number of hotels in operation by 2020.
About Capella Hotels and Resorts
Capella Hotels and Resorts serves today’s top-tier travelers and residential property owners and is setting a new standard in the hospitality industry. Capella promises the unique benefits of the finest boutique hotels, including superb architecture and interior design, privacy, individualized service and attention to detail – combined with the amenities and activities of the world’s great luxury hotels and resorts. Capella has opened world-class properties in gateway cities and high-profile resort destinations around the world, including: Breidenbacher Hof, a Capella Hotel (Düsseldorf, Germany); Capella Ixtapa (Ixtapa, Mexico); Capella Singapore (Sentosa Island, Singapore, and most recently Capella Marigot Bay Resort and Marina, Saint Lucia.
Capella’s upcoming hotels include the Capella Shanghai, Jian Ye Li, scheduled to open in March 2017, and Capella Bangkok, situated on the banks of the Chao Phraya River, opening in 2017 as well.