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Host Hotels & Resorts Inc. acquires a premier hotel in downtown Washington D.C.
WASHINGTON, D.C., July 17, 2012 – Jones Lang LaSalle Hotels announced today that it has arranged the sale of the Grand Hyatt Washington in Washington, D.C., on behalf of 1000 H Street, LLC and 1000 H Street Trust. Host Hotels & Resorts Inc. acquired this institutional-quality asset that is located at 1000 H Street NW, Washington, D.C.
Managing Director and Americas CEO Arthur Adler, Managing Director Bob Webster and Vice President John Nugent led the Jones Lang LaSalle Hotels team on this transaction.
The 888-room Grand Hyatt Washington was completed in 1987 and is a leading group hotel with approximately 43,000 square feet of flexible meeting space that was transformed under a renovation in 2007 and 2008. The hotel features five food and beverage outlets. Additionally, the hotel offers numerous upscale services and amenities including a fully equipped two-floor fitness club, indoor swimming pool and spa.
The Grand Hyatt, located in Washington D.C.’s East End, is within walking distance to cultural and entertainment demand drivers, numerous federal agencies and the Washington, D.C. Convention Center. Leisure attractions including the Verizon Center, Union Station, the National Mall, the Smithsonian Museums, the United States Capitol Building, and the White House are a short distance from the hotel.
About Jones Lang LaSalle HotelsJones Lang LaSalle Hotels is a global real estate services firm focused exclusively on hotels & hospitality. We provide acquisition and financing advice, valuations, investment sales and asset management for luxury hotels, select service and budget hotels, smaller hotels and pubs, from single assets to large portfolios and mixed-use developments. In the last five years we completed nearly 4,000 advisory and valuation assignments and more sale, purchase and financing transactions than any other hotels real estate firm in the world…worth over $30 billion. With 42 offices in 20 countries, no other firm is better connected. Through our depth and breadth of research and experience we know the market at every level, we know the players and we know how to get results. www.joneslanglasallehotels.com
About Jones Lang LaSalle Jones Lang LaSalle (NYSE: JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.2 billion of assets under management. For further information, please visit www.joneslanglasalle.com.
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