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
Rockwoods Fund VII, a $1.1 billion value-added fund that will focus on
hotel, retail, office and residential properties. The Fund closed in December
Rockwood Capital is a private real estate investment company that currently
is managing more than $2.8 billion of equity commitments. The
companys 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
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.