JLL’s Hotels & Hospitality Group has arranged a $53 million refinancing for The Morrow Hotel, a 203-lifestyle hotel located in Washington, D.C.
JLL represented the borrower, a joint venture ownership between Trammell Crow Company and MetLife Investment Management, to secure a three-year, floating-rate loan through Peachtree Group. The JLL Hotels and Hospitality team was led by Americas CEO Kevin Davis, Managing Director Mark Fisher, Director Connor Medzigian and Analyst Malia Buljat.
The Morrow Hotel, which operates under Hilton’s Curio Collection brand, opened in November 2022 as part of an expansive 810,000-square-foot mixed-use development that includes 640 apartments, 60,000 square feet of retail space and 350 below-grade parking spaces.
The hotel features 203 guestrooms and suites, including 136 king rooms, 59 double queen accommodations and eight suites averaging 426 square feet. “The Morrow exemplifies the types of hotels that are finding strong reception in today’s debt markets, particularly with best-in-class sponsorship like Trammell Crow Company and MetLife Investment Management behind it,” said Davis.
The post JLL Arranges $53M Refi for The Morrow Hotel in DC appeared first on Connect CRE.
Gillian Executive Search is a leader Hospitality, Hotel, Resort Development, Financing, Design and Construction recruiting. www.gessearch.com