Wednesday, January 4, 2017

HFF secures $14.14 million refinancing for DoubleTree hotel near Washington, D.C.


DoubleTree by Hilton Hotel Largo/Washington, DC

 CHICAGO, IL  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $14.14 million refinancing for DoubleTree by Hilton Hotel Largo/Washington D.C., a 184-room, full-service hotel in the Washington, D.C. community of Largo, Maryland.

HFF worked on behalf of the borrower, Frontier Development & Hospitality Group, to secure the seven-year, 4.1-percent, fixed-rate, non-recourse loan through a financial institution. 


Nicole Schmidt
Loan proceeds were used to refinance an existing construction loan used to acquire, renovate and rebrand the hotel from a Radisson into a DoubleTree. The financing also enabled the release of excess land that had been encumbered by the previous loan.

Named the No. 1 hotel on TripAdvisor for the Largo market, the newly-renovated DoubleTree by Hilton Hotel Largo/Washington D.C. is the only Hilton-branded hotel in the Largo, Landover and Hyattsville business corridor. 

The six-story hotel features 2,700 square feet of meeting space; an indoor, heated swimming pool; fitness center; business center; market pantry and two food and beverage options, XC BAR & BISTRO and the SC LOUNGE.

 Situated at 9100 Basil Court in Largo, the hotel is located just off Landover Road, which provides easy access to Interstate 495 (the Capital Beltway).  The hotel is less than two miles from the Largo Town Center Metro station in the heart of Largo and proximate to FedEx Field.

Mark Remington
 The DoubleTree by Hilton Hotel Largo/Washington D.C. is in the northern part of Prince George’s County, which has more than 19.7 million square feet of office space. 

The HFF debt placement team representing the borrower was led by director Jeff Bucaro and real estate analyst Nicole Schmidt with assistance from managing director Mark Remington. 

“This was the second financing assignment that Jeff has closed for us, and, each time, he was able to obtain terms that were superior to the market,” said Frontier CEO Evens Charles.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Marketing
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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