WASHINGTON, DC—A recent letter from a top DC official hints that JBG Companies is perhaps trying to make a deal to sell its property that is home to the Four Points by Sheraton Downtown here.
D.C. Zoning Administrator Matthew Le Grant stated in reference to a zoning determination on the property at 1201 K St. NW in a letter dated June 26 to Christine Shiker of Holland & Knight LLP, “You informed me that JBG/1201 K Hotel LLC is in the process of selling the building to a new owner and has recently learned of the inaccuracies in the 2004 CO.”
JBG Cos. declined comment on the report in the Washington Business Journal. At press time no financial information on the deal was known, nor was the potential buyer identified.
JBG acquired the 265-room hotel property in June 2004 for $39.25 million. The former Days Inn was converted into a Four Points by Sheraton in 2000. Chevy Chase, MD-based JBG Cos. had hoped to redevelop the property, which is currently operated by Starwood Hotels & Resorts Worldwide Inc., into a 280,000-square-foot office building. See story in the Washington Business Journal.
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