Washington, D.C

Crescent Acquires The Madison Hotel in Washington D.C.

Published

3 years ago

April 25, 2022

Crescent Acquires The Madison Hotel in Washington D.C.

Crescent’s The Madison Resort in Washinton, D.C. is a 356-key historic luxurious lodge positioned within the coronary heart of downtown.

Crescent will conduct a multi-million dollar comprehensive, guest-facing renovation of the historic The Madison Hotel to further its standing as a top business and leisure hotel in Washington, D.C.

Crescent’s The Madison Resort has undergone a model conversion and participates in Marriott Bonvoy’s award-winning journey program.

Crescent’s acquisition of historic The Madison Resort expands nationwide footprint into Washington D.C.

This funding presents a rare alternative to personal a famend lodge, The Madison Resort, within the middle of the world’s most essential establishments and really distinctive cities, Washington, D.C.”

— Jason Anderson, Co-CEO of Crescent

FORT WORTH, TEXAS, US, April 25, 2022 /EINPresswire.com/ — Crescent Actual Property LLC (Crescent) acquired The Madison Resort, a 356-key historic luxurious lodge positioned within the coronary heart of downtown Washington D.C., as the primary funding inside Crescent’s GP Invitation Fund III. The Madison Resort gives its visitors with enviable proximity to downtown’s world-class eating and premier workplace area, coupled with simply walkable entry to D.C.’s most coveted leisure and vacationer points of interest.

With Crescent’s acquisition, The Madison Resort has undergone a model conversion and is now proud to take part in Marriott Bonvoy^®, the award-winning journey program from Marriott Worldwide. As a part of the model conversion, Crescent will conduct a multi-million greenback complete, guest-facing renovation of the historic lodge to additional improve its standing as a prime enterprise and leisure lodge in Washington D.C.

Crescent has engaged HEI Motels & Resorts, a nationally acknowledged lodge administration agency with in depth expertise managing luxurious and full-service resorts all through america.

Situated on the nook of fifteenth and M Avenue NW, the Resort sits immediately throughout from Washington’s latest premier mixed-use growth generally known as Midtown Heart. Comprising greater than 870,000 sq. ft and 4,000 staff, Midtown Heart is residence to the Fannie Mae Headquarters. Midtown Heart boasts 42,000 sq. ft of floor ground retail with an esteemed assortment of eating places together with Blue Bottle Espresso, Dauphine’s, SHŌTŌ, Akedo and Philotimo.

Initially inbuilt 1963 by famend hotelier Marshall Coyne, The Madison Resort has hosted a few of the nation’s most distinguished visitors and overseas dignitaries. Prominently positioned within the coronary heart of the Central Enterprise District, The Madison Resort advantages from a novel and numerous set of demand mills. Washington is residence to all 3 branches of the U.S. federal authorities, 15 Fortune 500 firms, the nation’s 2nd largest workplace market, world-class museums and the world’s most distinguished establishments together with the World Financial institution, the Worldwide Financial Fund, the Federal Reserve and a plethora of non-profits, lobbying teams, legislation corporations and union headquarters. The expertise sector has additionally grow to be a quickly rising section of the town’s economic system and tourism has persistently grown within the nation’s capital 12 months after 12 months given the unparalleled points of interest that Washington provides. Washington D.C. has lengthy been thought of some of the secure lodging markets within the nation supported by this persistent array of demand.

“This funding presents a rare alternative to personal a famend lodge within the middle of the world’s most essential establishments and really distinctive cities. Though Washington’s hospitality business definitely struggled by means of the COVID pandemic, we consider the timing is opportune to amass The Madison Resort, conduct an in depth guest-facing renovation and capitalize on the resurgence of demand generated by Washington DC’s unparalleled and varied industries,” stated Jason Anderson, Co-CEO of Crescent.

“We’re excited to transition The Madison Resort into Marriott’s premier Bonvoy loyalty system. It is a pure match for the subtle and timeless character embodied by The Madison Resort all through its historical past,” added Anderson.

Eastdil Secured served because the unique advisor to the vendor within the transaction.

ABOUT CRESCENT
Crescent Actual Property LLC (Crescent) is an actual property working firm and funding advisor, based by Chairman John C. Goff, with property beneath administration, growth, and funding capability of greater than $10 billion. Via the GP Invitation Fund I, GP Invitation Fund II and GP Invitation Fund III, the corporate acquires, develops, and operates all actual property asset lessons alongside institutional buyers and excessive web price purchasers. Crescent’s premier actual property portfolio consists of Class A and artistic workplace, life science, multifamily, hospitality, and senior dwelling property positioned all through the U.S., together with The Ritz-Carlton, Dallas, and the wellness life-style chief, Canyon Ranch^®. For extra data, go to www.crescent.com.

About HEI Motels & Resorts
HEI Motels & Resorts, headquartered in Norwalk, Conn., is a number one hospitality funding and administration firm that owns or operates 85+ luxurious, upper-upscale and upscale impartial and branded resorts and resorts all through america. HEI’s branding companions embody Marriott, Hilton, Hyatt, IHG, Selection and Wyndham. The corporate is famend for its dedication to its associates, income administration, revenue contribution and empirically based mostly actual property worth creation, pushed by a full complement of proprietary software program instruments to set and exceed targets on a completely built-in foundation. HEI works hand-in-hand with institutional capital companions on current property beneath administration in addition to sponsored acquisition alternatives. The corporate has ample fairness capital and strategically co-invests with its companions on many transactions. To study extra about HEI, please go to www.heihotels.com

Dennis E. Winkler
Crescent Actual Property
+1 713-259-0195
electronic mail us right here

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Washington, D.C

Four Seasons Hotel conman wanted by DC Police

Published

8 hours ago

December 26, 2024

Press Room

Four Seasons Hotel conman wanted by DC Police

article

WASHINGTON – D.C. police are asking for the public’s help identifying a man accused of committing fraud and theft at the Four Seasons Hotel in Georgetown.

The incident occurred on Sunday, November 24, around 3 p.m. at the luxury hotel located on the 2800 block of Pennsylvania Avenue NW.

Surveillance footage captured the suspect arriving at the hotel in a Porsche SUV. He was seen wearing dark pants and a puffy winter coat, carrying a backpack. The man entered the hotel and was observed speaking with an employee at the front desk.

According to police, the suspect then dined at the hotel’s restaurant, ordering various items and charging them to a room number he was not registered to.

Following his meal, he proceeded to the hotel gym for a workout before leaving the premises and driving away in the Porsche.

Detectives are urging anyone who recognizes the suspect to contact them. A reward of $1,000 is being offered for information leading to an arrest and conviction in this case.

Attempts to reach the Four Seasons Hotel management for comment were unsuccessful, as they declined to discuss the incident.

Crime in the DMVWashington, D.C.Metropolitan Police Department

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Washington, D.C

‘I felt the boom': Burning building collapses in DC after car crash

Published

16 hours ago

December 26, 2024

Press Room

‘I felt the boom’: Burning building collapses in DC after car crash – NBC4 Washington

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Washington, D.C

Cal Thomas: Washington D.C.’s political Christmas tree

Published

1 day ago

December 26, 2024

Press Room

Cal Thomas: Washington D.C.’s political Christmas tree

MARY REICHARD, HOST: Today is Thursday, December 26th. Good morning! This is The World and Everything in It from listener-supported WORLD Radio. I’m Mary Reichard.

MYRNA BROWN, HOST: And I’m Myrna Brown. Up next, WORLD commentator Cal Thomas on a bad Christmas tradition in Washington D.C.

CAL THOMAS: When Washington politicians speak of a Christmas tree this time of year, they are not referring to an actual tree. It means they’ve loaded up a bill with another kind of “green,” the kind that’s decorated with money.

The “bipartisan” bill passed just before midnight last Friday, minutes before a government “shutdown” would be an embarrassment to anyone but the politicians who voted for it. Like Christmas, this scenario gets played out almost every year with no regard for the growing debt.

The first bill was more than 1,500 pages. Elon Musk denounced it and suddenly it shrunk to over 100 pages, but that was too little for the big spenders. What passed last week at 118 pages may take days to digest, but you can be sure of one thing: pork is part of it. Always is.

For the last ten years, Republican Senator Rand Paul has published what he calls a “Festivus” report on just some of the wasteful spending in which our Congress is engaged. His latest – and you should Google it to see it all – includes the following:

Some of the highlights – or lowlights as I like to call them — include funding for the National Endowment for the Arts to subsidize ice-skating drag queens and promoting city park circuses. Additionally, the Department of the Interior invested in the construction of a new $12 million Las Vegas Pickleball complex. Interior also allocated $720,479 to wetland conservation projects for ducks in Mexico. This year, the Department of State is featured eleven times, with expenditures including $4.8 million on Ukrainian influencers, $32,596 on breakdancing, $2.1 million for Paraguayan Border Security (what about security at our border?), $3 Million for ‘Girl-Centered Climate Action’ in Brazil, and much more!

Hey, it’s not their money, it’s our money.

At least this time a pay raise for members didn’t make it to the final bill. Members should be having their pay cut, not raised, for under-performing.

Perhaps Vivek Ramaswamy and Elon Musk can do something about the misspending that has led to the unsustainable $36 trillion dollar debt with interest of $1 trillion dollars just this year.

Others have tried and failed to break the spending habit. Maybe they will succeed this time, but the odds are not good. It’s not called “the swamp” for nothing.

I hope you had a Happy Christmas. Your politicians did.

I’m Cal Thomas.

WORLD Radio transcripts are created on a rush deadline. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of WORLD Radio programming is the audio record.

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