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Buccini/Pollin Group Completes Capitalization of $105 Million Washington Marriott Capitol Hill

The Buccini/Pollin Group has completed the $105.1 million project capitalization for the 13-story, 235-room Washington Marriott Capitol Hill / NoMa hotel in Washington D.C.

The property is located just north of Union Station and Capitol Hill on an urban infill site at First and L Streets, N.E. Union Station is the busiest rail station in the Washington Metro system, and the hub for Metro, Amtrak and Maryland and Virginia commuter lines. The Hotel is part of the mixed-use project NoMa CNTR in the NOMA neighborhood. Features of the hotel will include a glass-enclosed two-story lobby, large ballroom, outdoor terrace, chef-driven restaurant with indoor and outdoor dining, rooftop bar and event space, fitness facility and Marriott’s M club.

Sources of funding for the project capitalization included $6.25 million from CrowdStreet investors’ equity, a $17.25 million sponsor and partner equity, a $56.1 senior loan and a $25.5 mezzanine loan. 145 individual investors on CrowdStreet provided equity for the project.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.