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Washington DC & Mid-Atlantic  + DC Metro  + Hospitality  |  February 8, 2024
Emily Fu
By: Emily Fu

$600M+ in DMV Hotel Loans Default

Two loans tied to hotels in Maryland and Virginia have defaulted, indicating challenges beyond office vacancies, as reported by the Washington Business Journal.  

The $204 million loan spans 22 properties, including Marriott hotels in Greenbelt and Alexandria. Another $415 million loan covers 30 properties, including Courtyards in Herndon and Rockville. The debt on hotels in Greenbelt and Alexandria has been in default since 2020, with a deed in lieu of a transfer agreement underway. A similar loan tied to hotels in Herndon and Rockville remains in special servicing with no resolution. 

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Inside The Story

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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