CarrAmerica Secures $99 Million Refinance Loan From Morgan Stanley For InterContinental Hotel In Washington D.C

The asset involved is the InterContinental Washington D.C. — The Wharf, a hotel located at 801 Wharf Street Southwest in Washington, DC. This property consists of 278 keys and was developed in 2017 as part of the Wharf redevelopment project.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $99,000,000
• Lender: Morgan Stanley
• Landlord: Oliver Carr Jr. - CarrAmerica
• Loan Type: Refinance
• Brokers: Jordan (Jordy) Roeschlaub - Derby Lane Partners, Nick Scribani, Tyler Dumon & Tate Keir - Newmark

This refinancing deal enables CarrAmerica to secure a substantial loan, facilitating further financial strategies for the property and enhancing its operational capacity in the competitive hotel market.