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Washington DC  + Baltimore  + Hospitality  | 
Baltimore, MD

Douglas Development Acquires Historic Baltimore Hotel for $18M

Washington, DC-based Douglas Development has acquired its first Baltimore property, the Kimpton Hotel Monaco Baltimore Inner Harbor, for $18.1 million. CBRE represented the seller, an affiliate of Stonehill Strategic Capital.

Douglas Development plans on completing $6.5 million in improvement and renovations to the 13-story, 202-key property at 2 N Charles Street in Baltimore’s downtown area. TPG Hotel and Resorts has been tapped to serve as the facility’s third-party management.

Kimpton Hotel Monaco Baltimore opened in 2009 as an adaptive reuse of the former B&O Railroad headquarters, which was constructed between 1906 and 1908. The property has a bi-level restaurant (B&O Brasserie) with street frontage and 10,000 square feet of amenities.

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Douglas Development

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
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