Updated Jun 5, 2025
Philadelphia Marriott Downtown Secures $215M Refinance Loan With Barclays, Wells Fargo, And JP Morgan Chase
1201 Market Street
$215,000,000
Building Size
—
Asset Type
Hotel
Closing
Oct 25, 2023
About this deal
AI
The owners of the Philadelphia Marriott Downtown, Oaktree Capital Management LP and Clearview Hotel Capital LLC, have secured a $215 million fixed-rate loan to refinance the property. The loan was provided by Barclays, Wells Fargo, and JP Morgan Chase.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $215,000,000
- Address: 1201 Market Street - Philadelphia Marriott Downtown
- Market: Philadelphia, PA
- Asset Type: Hotel
- Number of Keys: 1,198
- Lender: Barclays, Wells Fargo & JP Morgan Chase
- Landlord: Oaktree Capital Management LP & Clearview Hotel Capital LLC
- Brokers: Barnett Wu, Caleigh O'Connell, Kevin Davis, Mark Fisher & Ryan Ade - JLL
The loan amount of $215 million will be used to refinance the Philadelphia Marriott Downtown. This fixed-rate loan provides the owners with an opportunity to optimize their financing and ensure the continued success of the property.
Players
Philadelphia Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93