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.
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.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
ConnectCRE.com
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Content Marketing
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.
