Three D.C. Kimpton hotels are for sale
Create: Jul 13, 2019 Edit: Jul 17, 2019
Pebblebrook Hotel Trust is looking to sell three of its D.C. hotels.
The 82-room Hotel Madera, the 99-room Topaz Hotel and the 137-room Rouge Hotel, all Kimpton-managed properties, are being marketed for sale. Pebblebrook declined to comment for this story.
All three hotels are in Dupont Circle — the Madera at 1310 New Hampshire Ave. NW, Rouge at 1315 16th St. NW and the Topaz at 1733 N St. NW. The properties can be acquired together or separately, according to the listing.
It’s also possible they will not remain hotels. The listing notes that there is “multifamily optionality” for all of the properties.
The three hotels are part of a large footprint Kimpton has in D.C. In all, the company manages 10 hotels in D.C. and one in Alexandria. If sold to someone who wants to keep them as hotels, they may not retain the Kimpton management, however; the listing notes that all three can be sold without the brand.
It’s also possible they will not remain hotels. The listing notes that there is “multifamily optionality” for all of the properties.
The three hotels are part of a large footprint Kimpton has in D.C. In all, the company manages 10 hotels in D.C. and one in Alexandria. If sold to someone who wants to keep them as hotels, they may not retain the Kimpton management, however; the listing notes that all three can be sold without the brand.
The potential sales are not surprising.
Pebblebrook’s acquisition of fellow real estate investment trust LaSalle Hotel Properties in 2018 gave the combined company a total of 10 hotels in D.C., more than Pebblebrook CEO Jon Bortz said he was willing to keep.
Pebblebrook prefers to keep its portfolio more West Coast-heavy, Bortz said in an interview with WBJ back in December. Most of the D.C. hotels were part of LaSalle portfolio; the only two that Pebblebrook owned were the Hotel Monaco — also a Kimpton — and the Sofitel Washington D.C.
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