DC-Area Hyatt Hotel Lands $47M Financing
- Apr 05, 2018
EagleBank has provided a $47 million bridge loan for the 168-key Hyatt Place Arlington Courthouse Plaza, a select-service hotel in Virginia. Mission Capital Advisors represented a joint venture of The Schupp Cos. and LodgeWorks Partners in securing the refinancing of the hotel’s construction loan.
The property is located at 2401 Wilson Blvd. in Arlington, Va., with downtown Washington, D.C. a 12-minute drive away. The site is adjacent to the Association of the United States Army (AUSA) Conference and Event Center, representing an easy accommodation choice for conference attendees. Built in 2016, the hotel rises eight stories. On-site amenities include:
- wine bar and restaurant
- business center
- fitness center
- 80 spaces of indoor valet parking
- all-day dining
The Mission Capital team representing the owners included Managing Directors Jason Parker and Ari Hirt, along with Vice President Jamie Matheny.
“There were a lot of capital providers interested in this opportunity, and the strong demand we generated enabled us to structure a very strong deal on behalf of our client,” Parker told Commercial Property Executive.
Image courtesy of Mission Capital Advisors