Washington DC CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Washington DC  + DC Metro  + Finance  | 
Twain Financial Partners has provided $59.2 million to transform the original George Mason Hotel in Alexandria, VA’s Old Town neighborhood.

Twain Provides $59M to Restore 1925-Constructed George Mason Hotel in Old Town

Twain Financial Partners has provided $59.2 million to bring new life to a century-old hotel building in Alexandria, VA’s Old Town neighborhood.

Hotel Heron, a 90,000-square-foot urban adaptive-reuse development, is set to begin construction now that financing has closed on the $76.5 million project. Of that total, Twain’s $59.2 million is being made available through a mixture of sale leaseback financing and both federal and state historic tax credit equity.

“Between the leaseback and the tax credits, we are able to provide the development team with the funding they need to get this hotel from concept to completion,” said Kelly Iffrig with Twain. The development team includes May Riegler Properties and Potomac Investment Properties.

The Hotel Heron project will restore the original George Mason Hotel building, which was constructed in 1925. The facility will contain 134 rooms and 30,000 square feet of amenity, meeting space, restaurant space and ground-floor retail.

Connect

Inside The Story

Twain Financial Partners' Iffrig

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Development
  • ◦Financing
Chase-11-cube