Philadelphia Marriott Downtown Secures $215M Refinance Loan With Barclays, Wells Fargo, And JP Morgan Chase

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.