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’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.

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
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