Modus, Brown Acquire D.C.'s Normandy Hotel
Monday April 22nd, 2013 - 9:36AM H
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WASHINGTON— Modus Hotels and Alex. Brown Realty acquired the 75-room Normandy Hotel here for $16 million.
ABR Chesapeake Fund IV, a real estate fund sponsored by ABR, invested in the venture.
Located in the Kalorama and Dupont neighborhoods, the acquisition brings Modus’ portfolio to 13 hotels, with seven in the metro D.C. area.
“Recently having undergone a $6 million renovation, The Normandy reflects a sophisticated personality and style and is a perfect complement to our expanding collection of distinctive, lifestyle hotels,” commented Aaron Katz, president/CEO of Modus Hotels.
Design details and upscale brands such as B&B Italia, George Smith Furniture, Porta Romana and GP &J Baker add a modern, sophisticated touch to The Normandy Hotel. The lobby extends to the guestrooms with down duvets, complimentary Wi-Fi and in-room Nespresso beverage machines.
The hotel is close to cultural attractions and restaurants and the Phillips Collection, the Corcoran Gallery of Art and a number of embassies are located within walking distance.
The Normandy Hotel joins the Modus Hotels’ collection of properties operating in D.C., Baltimore, Chicago and Philadelphia that include The River Inn, Avenue Suites Georgetown, The Quincy, The Windsor Suites and The Brookshire Hotel and Suites, Inner Harbor Baltimore.
Alex. Brown Realty, Inc. is a privately owned real estate investment manager headquartered in Baltimore, MD.
Tags: • Hospitality • Ownership •
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