DC’s Fairfax at Embassy Row Hotel to Be Converted to Senior Living
A joint venture between Maplewood Senior Living and Omega Healthcare Investors, has acquired the Fairfax at Embassy Row, a hotel in Washington, D.C.’s DuPont Circle neighborhood, with plans to convert the property into a 174-unit senior living community called Inspīr Embassy Row.
Westbrook Partners sold the eight-story, 173,932-square-foot hotel. Public records listed the sale at $58.1 million.
“We have taken careful consideration to identify locations where we can truly offer exceptional resident experiences that are reflective of the history, culture and vibrancy of the cities that surround them,” Gregory D. Smith, president and CEO of Maplewood Senior Living, told Commercial Observer. “The prestigious history of the building, paired with the central location and surrounding demographics, perfectly fits the strategic profile of where we envision an Inspīr residence to be located.”
Located at 2100 Massachusetts Avenue NW, the 259-room hotel was originally built in 1927 and was last remodeled in 2008, when it was operated under the Starwood (STWD) Hotels & Resorts brand. In 2015, it changed to a Preferred Hotels & Resorts brand.
Inspīr Embassy Row will offer a variety of care options, including assisted living and memory care. It will also provide residents with a brain-healthy lifestyle and offer daily programs to keep residents in motion, naturally and purposefully.
Smith added that the size and number of units in the building made it a great property for conversion, in addition to the large floor plates with generous amenity spaces.
“In places like Washington, D.C., the demand for luxury residences that cater to the large, active, aging population has never been higher,” he said. “Investing in urban locations is a strategic response to the coming of age of the Baby Boomer generation and their unique needs.
Therefore, with this new type of living option, the affluent aging population can now remain in the D.C. area and maintain their lifestyle, while benefiting from world-class care and luxury amenities that they would otherwise need to relocate to the suburbs to receive.
“For the first time, residents will have all of the elements that made a city lifestyle attractive to them — arts, culture, fine dining — as well as access to top-notch care from some of the most renowned institutions and doctors in D.C. and beyond,” Smith said. “Inspīr has curated an environment and lifestyle that supports a philosophy of vibrant, intentional living and meaningful connection.”
Newmark (NMRK) represented the seller in the deal.
Keith Loria can be reached at email@example.com.