Henderson Park Purchases Property At 1330 Maryland Ave SW With Representation From JLL
1330 Maryland Ave SW, Washington...
Building Size
—
Asset Type
Hotel
Closing
Nov 20, 2023
AI
The property involved in the transaction is the Mandarin Oriental, located at 1330 Maryland Ave SW, Washington D.C. It is a luxury hotel that spans nine stories and includes 373 rooms. The sales price has not been disclosed, and the square footage is also not specified. The property was built in 2004 and has recently undergone renovations. It overlooks the Tidal Basin and the Washington Channel, with nearby attractions including the National Mall, Washington Monument, Martin Luther King Jr. Memorial, and the Smithsonian National Museum of Natural History.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Address: 1330 Maryland Ave SW, Washington D.C.
- Seller's Representative: Gilda Perez-Alvarado, Jeffrey Davis - JLL
- Buyer: Henderson Park
- Seller: Mandarin Oriental Hotel Group International Ltd.
- New Management: Salamander Hotels & Resorts
Gilda Perez-Alvarado, Jeffrey Davis, and Stephany Chen of JLL represented the seller in the transaction. Additionally, Mark Fisher of JLL arranged acquisition financing for the buyer, Henderson Park. The hotel has been rebranded as Salamander Washington D.C. under the management of Middleburg, Virginia-based Salamander Hotels & Resorts.
Players
Market Hotel Market Snapshot
Boundary boundary · Hotel · Sale 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