Barings Provides $101.5M Refinancing for Dual-Brand Hotel in Downtown D.C.

WASHINGTON, D.C. — Barings has provided a $101.5 million bridge loan for the refinancing of the existing construction loan on the Courtyard/Residence Inn by Marriott in downtown Washington, D.C. The dual-brand hotel opened in November of 2018 and features 504 rooms. Located across from the Walter E. Washington Convention Center, the 11-story property was developed by Quadrangle Development Corp. and Capstone Development LLC. The hotel’s amenities include a restaurant, fitness center, convenience store, meeting space, kitchen and complimentary breakfast for guests, according to the hotel’s website.