Developed in 1990 along Route 7 in an area less than an hour outside the heart of the District and just eight miles from Dulles International Airport, the posh center opened officially in 1991. Owners touted it as the first executive conference resort of its kind and caliber in the Washington Metro region. But while Lansdowne stands out in the world of luxury conference center resorts, it is still operating in a climate hobbled by the slumping economy, and challenged even further by the effects of terrorism on the hospitality industry. Given the current environment, the financing is a coup both for Sonnenblick and Lansdowne.

Speaking to GlobeSt.com, Sonnenblick-Goldman managing director and principal Mark J. Gordon explains, "This is a deal we brought to the market post-Sept. 11, and we were unsure how the reception would be." Sonnenblick presented the deal to the marketplace in Mid-October, and was under pressure to solidify a suitable financing arrangement before the existing financing came due at the end of January. Any doubts about how the market would respond were immediately doused. "We were positively encouraged by the response we saw--there were several competitors," Gordon notes. "This exercise shows us the debt market is coming back and it's still interested. The money is out there, it's just a matter of where to find it." He adds that the Lansdowne is "one of the first major hotels to be refinanced since 9/11, so we're very, very excited about this."

Managed by Woodlands, TX-based Benchmark Hospitality, Lansdowne covers 205 acres with a 305-room hotel, 45,000 sf of meeting space, three restaurants, a 120-seat amphitheater and a 9,525-sf ballroom. There is also a full-service health and fitness center, spa services, tennis courts, and an 18-hole Robert Trent Jones, Jr.-designed golf course.