St Regis Washington DCWASHINGTON, DC–Al Rayyan Tourism Investment Co. has refinanced three of its luxury hotels including The St. Regis Washington DC, for a total of $503 million.
The other two properties were The Manhattan at Times Square Hotel and The St. Regis Bal Harbour Resort in Miami. The Manhattan at Times Square Hotel secured a $290 million loan and the St. Regis Bal Harbour Resort got a $132 million loan. The St. Regis Washington DC was refinanced at $81 million.
HFF placed the three floating rate loans Mack Real Estate Credit Strategies. Each loan carries a four-year term with one one-year extension.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
