LaSall Hotel Properties sells Landsdowne Resort for $133m

Bethesda-based real estate investment trust LaSalle Hotel Properties has completed the sale of the recently renovated Lansdowne Resort for $133 million. The 296 room property sits on 476 acres overlooking the Potomac River and features multiple restaurants, 55,000 sqf of meeting space, 45 holes of golf, three tennis courts, pools, a fitness center and a 12,000 sqf spa. The buyer, Dejia LLC, is a company owned by Hong Kong citizen Ci Zhonghua and a first-time U.S. hotel investor. As part of the sale, Crisafulli said lodging management company Destination Hotels won a contract to continue running the management and operations of the resort, which it has done since 2012. Additionally, Troon Golf will stay on board to oversee the resort’s golf club. Jones Lang LaSalle represented the buyer.

"Investors are paying more attention to assets in the Washington D.C. Metro area due to improving market fundamentals," JLL Managing Director Robert Webster said in a prepared statement. "The size of this resort, along with the luxurious amenities it offers guests, presented a valuable opportunity to own an iconic property in a spectacular location."