Monday, December 3, 2012

Jamestown To Trade The Madison in DC to Loews Hotels




National Commercial Real Estate News From CoStar Group





Jamestown To Trade The Madison in DC to Loews Hotels



Jamestown Properties agreed to sell its 356-room Madison Hotel in Washington, DC, to Loews Hotels & Resorts, a New York-based owner and operator wholly owned by Loews Corp. (NYSE:L). The transaction will close next month.

While the sale price was undisclosed, Jamestown picked up the hotel and an adjacent office building from MEPT/New Tower Trust Co. in January 2011 for more than $120 million. See CoStar COMPS #2040390 for more information.

The...






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