Carmel Partners Secures $360M Construction Loan For Washington Marriott Wardman Park

Carmel Partners has secured $360 million in construction financing from Wells Fargo Bank for the redevelopment of the Washington Marriott Wardman Park, located at 2660 Woodley Road Northwest in Washington, DC. The hotel property, which consists of 900 units, will undergo extensive renovations and improvements.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $360,000,000
• Lender: Wells Fargo
• Landlord: Ron Zeff - Carmel Partners
• Address: 2660 Woodley Road Northwest
• Market: Washington, DC
• Loan Type: Construction

Heading the redevelopment project is Ron Zeff, the landlord and representative of Carmel Partners. This significant loan from Wells Fargo Bank will enable the transformation of the Washington Marriott Wardman Park into a modern and updated hotel, with enhanced amenities and a revamped guest experience. The redevelopment plans aim to attract a larger number of visitors and establish the hotel as a premier destination within the Washington, DC market.