Natixis Scores $39M Loan for Hyatt Acquisition
- Jun 15, 2017
French corporate and investment bank Natixis arranged a $39 million floating-rate first mortgage for the acquisition of the 200-key Hyatt Place hotel located in the NoMa neighborhood of Washington, D.C. The company arranged the loan on behalf of the borrower, The Excel Group, a real estate acquisition and asset management company.
Located at 33 New York Ave. N.E., the 14-story building constructed in 2014 was designed by Cooper Carry Architects. The LEED Silver property features a lounge, 1,600 square feet of meeting space, an outdoor pool, a fitness and a business center.
Only two blocks from the NoMa-Gallaudet Metro Station, the hotel offers convenient access to government agencies such as the Bureau of Alcohol, Tobacco, Firearms and Explosives, the Department of Justice, as well as private corporations and organizations.
The NoMa neighborhood underwent significant transformations over the past 10 years and is poised for sustained growth, with 8.3 million square feet of office space expected to come online in the near future. Additionally, 4,235 residential units and roughly 200,000 square feet of retail space are expected to be completed by 2019.
Images courtesy of Hyatt