WASHINGTON, DC—On Friday Blackstone closed on its $6-billion acquisition of Strategic Hotels & Resorts, a deal in which Blackstone has acquired all outstanding shares of common stock of the hotel REIT for $14.25 per share in cash, and all of the outstanding membership units of its Strategic Hotels Funding LLC subsidiary for $14.25 per unit in cash.

The 17-asset portfolio is spread across the country with no one particular state home to the bulk of the hotels, although many are located in California. The rest can be found in Florida, Illinois, Arizona, Texas and Wyoming – as well as one asset in Washington DC. That would be the Four Seasons, located at 2800 Pennsylvania Ave.

The Four Seasons is one of a small handful of five-star properties here; the majority of very nice hotels fall in the four-star category.

Still, DC's Four Seasons is trading under a bit of a cloud, performance wise at least. It was one of two hotels that caused Strategic Hotels to downwardly revise by 1% its room revenue forecast for the full year, the REIT announced in its Q2 earnings at the beginning of August. The other hotel was the Westin St. Francis in San Francisco.

The shortfall came because some business Strategic Hotels had anticipated for the hotel over the summer simply did not materialize " including a large foreign delegation that decided not to come to the US at the last minute for various political reasons," a REIT executive said during the earnings call.