Mark Fisher Of CBRE Arranges Loan For Hotel On 1330 Maryland Ave SW
1330 Maryland Ave SW, Washington...
Building Size
—
Asset Type
Hotel
Closing
Nov 20, 2023
AI
The Mandarin Oriental, Washington D.C. is a luxury hotel located on 1330 Maryland Ave SW in Washington. The hotel comprises nine stories with 373 rooms and was built in 2004. Recently renovated, the property overlooks the Tidal Basin and the Washington Channel, offering views of nearby attractions such as the National Mall, Washington Monument, Martin Luther King Jr. Memorial, Thomas Jefferson Memorial, and the Smithsonian National Museum of Natural History.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Borrower's Representative: Mark Fisher (CBRE)
- Lender: Undisclosed Institutional Investor
Henderson Park, a London-based private equity real estate manager, acquired the Mandarin Oriental and rebranded it as Salamander Washington D.C. The property is now managed by Salamander Hotels & Resorts, based in Middleburg, Virginia. Gilda Perez-Alvarado, Jeffrey Davis, and Stephany Chen of JLL represented the seller, Mandarin Oriental Hotel Group International Ltd., in the transaction. Mark Fisher of JLL was the arranger of the undisclosed acquisition financing on behalf of Henderson Park.
Players
Market Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93