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Lansdowne Resort sold to Hong Kong investor for $133M

An aerial view of Lansdowne resort in eastern Loudoun County. Courtesy Photo
Lansdowne Resort changed hands earlier this month in a quiet sale to a foreign investor.

Bethesda-based real estate investment trust LaSalle Hotel Properties announced in early April it sold the 296 newly renovated-room resort for $133 million.

A week later, Chicago-based real estate and investment management company JLL said it helped arrange the sale of Lansdowne Resort on LaSalle Hotel Properties’ behalf to Dejia LLC, “a first-time U.S. hotel investor.”

"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."

Lansdowne Resort’s Area Director of Marketing and Communications Sarah Crisafulli told the Times-Mirror Dejia LLC is a company owned by Hong Kong citizen Ci Zhonghua.

Crisafulli said the buyer came out to the resort multiple times and fell in love with it largely for its wellness-oriented amenities.

“Mr. Ci believes with the resort and the combination of our fitness facilities and our restaurants and everything that we do from a general leisure capability and activities that it’s really conducive for developing a wellness resort,” Crisafulli said.

As part of the sale, Crisafulli said lodging management company Destination Hotels won a contract to continue running the management and operations of the the resort, which it has done since 2012. Additionally, Troon Golf will stay on board to oversee the resort’s golf club.

The sale of the more than two decades old resort came after it embarked on a series of renovations last year in a bid to compete for larger and higher-end clients and tourists.

The resort’s Director of Sales Skip James told the Times-Mirror last year that the renovations would allow them to attract more national and higher paying accounts, not just from Loudoun, but from the northeast and along the East Coast.

The Lansdowne Resort sits on 476 acres overlooking the Potomac River and features multiple restaurants, 55,000 square feet of meeting space, 45 holes of golf, three tennis courts, five pools, a fitness center and a 12,000-square-foot spa.

Comments


Maybe they can drop the 20k fee to join for golf.  There is never anyone playing….not very competitive.


Given the capital export restrictions in China, I’m surprised that Ci Zhonghua was able to get $133m out of the country.

Regardless, it is good to see global wealth being invested in Loudoun County.

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