Updated Oct 15, 2026
Modon Georgetown Holdings LLC Acquires Development Site From Thor Equities For $76.1 Million
3000 M Street Northwest
$76,100,000
Building Size
—
Asset Type
Development Site
Closing
Oct 13, 2026
About this deal
AI
The asset involved in this transaction is a development site located at 3000 M Street Northwest in Washington, DC. The site was sold for $76,100,000. It has remained vacant since the former Latham Hotel was demolished in 2017. The current plans include building a 67-room hotel on the site following the sale.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $76,100,000
- Buyer: Modon Georgetown Holdings LLC
- Seller: Thor Equities
- Market: Washington, DC
Modon Georgetown Holdings LLC is an affiliate of Abu Dhabi-based Modon Holding. Thor Equities is expected to remain a development partner in this project, collaborating on the future development of the hotel at the site.
On the Map
$76,100,000
Development Site
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Players
Eureka Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93