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| Holiday Inn Express & Suites, Washinton, DC |
WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announced
it has arranged two loans totaling $36.19 million for the Holiday Inn Express & Suites and Fairfield Inn & Suites, two adjacent, 126-room, select-service
hotels in Washington, D.C.
HFF worked on behalf of
the borrower, Rocks Engineering Co., to secure the $19.3 million loan for
Holiday Inn Express & Suites and the $16.89 million loan for Fairfield inn
& Suites with Burke & Herbert Bank.
The fixed-rate loans each have a term of 10 years.
The Holiday Inn Express
& Suites and the Fairfield Inn & Suites are both five-story hotels with
a combination of standard rooms and suites.
Each hotel features a breakfast area, lobby, fitness center, swimming
pool, business center and between 600 and 800 square feet of meeting
space.
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| Mark Remington |
The Holiday Inn Express
& Suites, 1917 Bladensburg Road, and the Fairfield Inn & Suites, 2305
New York Avenue NE, share 251 parking spaces on approximately 3.6 acres at the
intersection of Bladensburg Road NE and New York Avenue NE (U.S. Route 50),
which is a direct artery to downtown Washington.
The New York Avenue-NoMa station on Metro’s
red line is two miles from the hotel and accessible via a complimentary hotel
shuttle, which also takes guests to the Washington Convention Center and other
points of interest in Washington, D.C.
The HFF debt placement
team representing the borrower was led by managing director Mark Remington.
“This was a win-win
between borrower and lender,” Remington said.
“The lender was able to keep and increase an existing loan to a
long-time and valued client, and the borrower was able to right-size and
improve its loan terms to reflect the competitive state of the lending market.”
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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