Union Investment Acquires Projected Thompson-Branded Lifestyle Hotel Development in Washington DC for $120 Million

Union Investment | March 5, 2018

5 March 2018 - Union Investment has agreed to acquire a Thompson-branded lifestyle hotel development in Washington D.C. The hotel will be built in Navy Yard, which is currently one of the most exciting urban development areas in the US. The vendor, developer and future operator of the approximately 12,000 sq m property is Gone Yard Hotel Owner, LLC, a joint venture between Geolo Capital and JW Capital Partners. Transfer of the hotel will take place upon opening of the 11-storey hotel, which is scheduled for the beginning of 2020. Upon completion, the project will be added to the portfolio of the open-ended real estate fund UniImmo: Glob...