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Rockwood Capital Acquires Landmark Mayflower Hotel in
Washington, DC; First Lodging Asset of Rockwood’s Fund VII
Greenwich, CT – March14, 2007 - Rockwood Capital has acquired the landmark Mayflower Hotel in Washington, DC. from a venture consisting of affiliates of Walton Street Capital LLC, Rockpoint Group, LLC and SCS Advisors, Inc.  The hotel is located in the heart of Washington’s business district, four blocks from the White House.  The Mayflower is a Renaissance Hotel managed by Marriott International.

Built in 1925, The Mayflower is listed on the National Register of Historic Places and has undergone extensive renovations over the last several years (over $20 million since 2004), including upgrades to guest rooms and public and meeting spaces.  A 2,000 square foot, state-of-the-art fitness center is scheduled for completion during the second quarter of 2007.  Celebrities, royalty and dignitaries from around the world have been guests of The Mayflower, including Queen Elizabeth II, John Wayne and J. Edgar Hoover.  In addition, President Truman lived at The Mayflower during the first 90 days of his presidential term.

According to Walter Schmidt, Senior Managing Director of Rockwood Capital, “Being long-term investors in Washington DC, we are delighted to add this to our portfolio.”  The acquisition is the first lodging asset of Rockwood’s Fund VII, a $1.1 billion value-added fund that will focus on hotel, retail, office and residential properties. The Fund closed in December 2006.

Rockwood Capital is a private real estate investment company that currently is managing more than $2.8 billion of equity commitments.   The company’s performance in its six previous funds has averaged more than 23% to the investor.

Rockwood Capital invests equity capital on behalf of pension funds, endowments, foundations and high net worth individuals in key U.S. markets in office, retail, residential, hotel and mixed-use projects.  Since 1980, Rockwood and its predecessor company have invested in more than $6.6 billion of real estate through six commingled funds and various special purpose partnerships on behalf of its investors. The company has offices in Greenwich, CT, San Francisco, CA and Los Angeles, CA.

Walton Street Capital, LLC was founded in 1995 and is a premier, private real estate investment company.  Through its series of opportunistic and value-added funds, Walton has invested and/or committed to invest approximately $3 billion of equity in approximately 150 separate transactions in U.S. and international real estate, including the development and acquisition of office, hotel, retail, industrial, multi-family, senior and student housing, and golf assets through both individual, portfolio and company-level transactions with a gross asset cost of approximately $9 billion. 

Rockpoint Group, L.L.C. ("Rockpoint") is a global real estate investment management firm with 47 professionals located in Boston, Dallas, San Francisco, Frankfurt, London and Tokyo.  Rockpoint was formed in 2003 by Pat Fox, Keith Gelb, Greg Hartman, Jonathan Paul and Bill Walton, who have been investing together for approximately 12 years through seven opportunistic funds and one lower risk/lower return fund which aggregate approximately $6 billion of invested equity in nearly 250 transactions which represent a total capitalization of approximately $29 billion (including fund equity, partner equity and third party debt).  Rockpoint targets a broad range of real estate investments across all asset classes and geographic regions, with a particular focus on deep value creation, complex situations and distressed/restructuring.

Formed in 1997, SCS Advisors, Inc is a multi-discipline lodging investment firm that provides development, transactions, and asset management services to investors targeting the hotel industry. Since its formation, SCS Advisors has been responsible for hotel acquisitions in excess of $1.4 billion, hotel development totaling $300 million and oversight of a hotel portfolio comprising 14,237 rooms in 34 primarily luxury and upper upscale properties.


Diane Reed
626-578-7550, office

Also See: Renaissance Mayflower Hotel Creates Permanent, Museum Quality Exhibits Throughout the Hotel; Features Stories Highlighting 80 Year History / February 2005
Olympus Real Estate, Rockwood Capital, Prudential Real Estate Investors, HEI Hospitality to Acquire 14 Hotels from Starwood; Smilezzzz Hospitality to Manage Properties / May 2003
Walton Street Capital Joint Ventures with Morgans Hotel Group in Ownership of Two MHG’s London Hotels: Sanderson and St Martins Lane / February 2007