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1330 Maryland Ave SW, Washi...

Mark Fisher Of CBRE Arranges Loan For Hotel On 1330 Maryland Ave SW
FINANCEDHotel

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:

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

Mark Fisher

CBRE

Broker

$1.6B

vol

9 deals

Broker
UI
Undisclosed Institutional InvestorLender

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