Foggy Bottoms


Hotel Repositioning
Washington, D.C.

RMWC originated a $7.0MM Mezzanine Loan secured by a pledge of Borrower’s equity interest to refinance the Sponsor’s all-cash acquisition and fund development expenses, reserves, and renovation capital on a 152-key Hotel in the Foggy Bottom neighborhood of Washington, D.C. The Sponsor is an experienced developer who plans to reposition an unbranded transient hotel into a branded extended stay hotel through a $27.6MM renovation.