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Mt. Vernon Triangle Holiday Inn Express Faces Foreclosure
A looming foreclosure auction threatens the Holiday Inn Express in D.C.’s Mount Vernon Triangle. Located at 317 K St. NW, its owner, Birchington LLC, is facing significant debt issues, as reported by the Washington Business Journal.
Scheduled for February 8, the auction by Alex Cooper Auctioneers, acting on behalf of SSCHOF II Washington DC LLC, claims Birchington defaulted on a $49 million loan, now ballooning to almost $80 million due to late fees and interest.
Birchington, linked to Habte Sequar, previously sought Chapter 11 bankruptcy protection in February 2023 over a failed loan refinancing. Although a debt restructuring deal was reached in May and the bankruptcy case dismissed in June, challenges persisted. Birchington faces mounting claims, notably from Kinsley Construction demanding $5.3 million for hotel construction and Pawnee Leasing Corp. seeking repayment of $17,300 for an audio system.
- ◦Financing
