Magic Moment: In one of the largest hotel acquisitions in Washington, D.C. history, the Canyon-Johnson Urban Fund (CJUF) and Lowe Enterprises Investors purchased the iconic Hilton Washington in May 2007. At a press conference on June 7, 2007, the new ownership team, which includes basketball-legend-turned-urban-entrepreneur Earvin “Magic” Johnson, announced they will invest more than $100 million for an extensive top-to-bottom renovation of the hotel.

The CJUF/Lowe Enterprises joint venture has entered into a long-term management agreement with Hilton Hotels Corporation. Hilton Hotels Corporation executives, Earvin “Magic” Johnson, and Frank Otero, Area VP and General Manager of Hilton Washington, were all on hand for the public announcement.

News Coverage from Press Conference:
>> WJLA-TV/ABC 7
>> WRC-TV/NBC 4

Press Releases:
>>. May 31, 2007
Canyon-Johnson Urban Fund and Lowe Enterprises Purchase Hilton Washington