SAN FRANCISCO—San Francisco-based Geolo Capital and Boston-based JW Capital Partners plan to break ground on a new Thompson Hotels project in Washington, DC. Slated to open in early 2020, the 225-room Thompson DC will be the first hotel development in The Yards—the city’s earliest industrial neighborhood—and will offer locally inspired design, and a variety of signature amenities for travelers and locals alike.
Situated on DC’s scenic riverfront, within walking distance from Nationals Park, The Yards is quickly transforming into a vibrant modern hub reflective of the area’s rich, maritime past. Thompson DC will be a social anchor in this growing mixed-used community, joining dozens of specialty retailers, restaurants and high-end residences.
Developed by real estate investment group JW Capital Partners and private equity investment group Geolo Capital, Thompson D.C. will feature 38 suites—including two expansive Thompson Suites—many with views of the Anacostia River and nearby Nationals Park. In addition, the property will offer signature food & beverage establishments, including a ground-level restaurant, lobby lounge and an expansive rooftop bar with 360-degree views of the city. Other amenities include a state-of-the-art fitness center, and 4,000 sq. ft. of flexible meeting and event space.
Employing the expertise of Studios Architecture and New York City-based interior design firm Parts and Labor Design, the hotel will draw inspiration from the area’s notable Navy Yard, incorporating industrial patterns and textures found in historic naval structures. Copper, metal, and emerald and ivory tones will be implemented throughout the building’s intricate interiors and guest rooms, with dark iron bricks, metal panels and a dark grey facade defining the exterior.
Upon the opening of Thompson D.C., Union Investment will acquire the hotel from Geolo Capital and JW Capital Partners. Upon completion, the project will be added to the portfolio of the open-ended real estate fund UniImmo: Global. The purchase price will be around $120 million and the lease has a term of virtually 30 years.
“Washington’s Navy Yard is already being seen as a magnet for trendsetters, with strong appeal for residential, office, retail and restaurant uses,” said Andreas Löcher, head of Investment Management Hospitality at Union Investment Real Estate GmbH. “The Thompson lifestyle brand is an excellent fit with this location and also with our existing hotel portfolio.”