Hôtellerie

$5.3 Million Hotel Non-Performing Loan

Washington DC, DC Etats-Unis
Prix attendu Prix : Nous contacter
Surface
Revenu net Revenu net N/A
Taux de capitalisation N/A
Prix attendu Prix : Nous contacter
Surface
Revenu net Revenu net N/A
Taux de capitalisation N/A

Caractéristiques

Loan Status Non-Performing
Type d'actif Hospitality

Description

INVESTMENT OPPORTUNITY - Jones Lang LaSalle ("JLL") and Ten-X have been retained on an exclusive basis by the Seller, a CMBS special servicer, to arrange the sale of a $5.3 million non-performing loan (the "Loan"). The Loan was originated in January 2018 with an initial balance of $5,500,000 to refinance existing debt and is secured by a first-lien priority deed-of-trust on the fee simple interest in a 15-key luxury boutique hotel (the "Collateral" or "Property"), in the Georgetown neighborhood of Washington, D.C. The Loan was structured with a fixed interest rate of 4.931% and P&I payments based on a 30-year amortization schedule through the term, which expires in January 2028.


The Loan was transferred into special servicing in April 2020 for imminent default from a reduction in demand at the Collateral due to local COVID-19 restrictions and national lockdowns. The servicer filed a  foreclosure complaint in February 2021. As of September 2021, the Loan is 120+ days delinquent with the current principal balance of $5,324,515.


COLLATERAL - The Property is a one-of-a-kind, limited-service luxury boutique hotel in Georgetown, a prevailing submarket of Washington, D.C. The Property is comprised of a single-parcel lot totaling 0.13 acres. The two-story hotel opened to the public in 2016 and features 15 rooms, a lounge area, and an outdoor patio. The Property was completely rehabilitated and converted under current ownership and includes necessary back-of-the-house space, including an in-house laundry facility.

Transaction Auction Dates & Documents

Auction Start Date: Monday, December 13, 2021

Auction End Date: Wednesday, December 15, 2021

Sign the Confidentiality Agreement

Informations Clés

POSITIVE GUEST REVIEWS - Of the 443 reviews gathered on Tripadvisor since summer 2016, 93.2% rated their stay at the Property as “Very Good” or “Excellent.” The Property is truly a one-of-a-kind experience found in Georgetown.

COVID AFFECTED - Intended to stop the spread of COVID-19, national lockdowns catalyzed a falling occupancy due to a reduction in leisure travel demand domestically. With the Sponsor unwilling to fund debt, the Loan defaulted in April 2020 directly due to COVID-19.

ACCELERATED TIMELINE - By the Servicer filing a foreclosure complaint in February 2021, an investor has an accelerated path to the fee simple interest either through foreclosure or a potential deed-in-lieu.

HIGH BARRIERS TO ENTRY - After centuries located at the heart of the nation’s capital, the real estate market in Georgetown is widely developed. The lack of pure-play developable land within the submarket pushes a price benefit to the current residential and alternative use product supply.

ATTRACTIVE BASIS - At $5,324,515 in outstanding principal balance, the Loan sits at a healthy and attractive basis for $354,968 per unit, below replacement cost.

Last Updated Date: 08 Nov 2021

Une erreur est apparue lors de votre requête. N'hésitez pas à la soumettre à nouveau. Si elle devait persister, n'hésitez pas à nous en faire part ici.

 

DÉCLARATION DE CONFIDENTIALITÉ 

Jones Lang LaSalle (JLL), ainsi que ses différentes filiales et entités, est une société internationale leader du conseil en immobilier d'entreprise. Nous prenons la responsabilité de protéger avec la plus grande rigueur les informations personnelles qui nous sont confiées. 

En règle générale, les informations que nous recueillons sur vous nous permettent de traiter ou de répondre à votre demande. 

Nous nous engageons à conserver les informations personnelles qui nous sont confiées, avec le niveau de sécurité approprié, et aussi longtemps que nous le jugerons nécessaire pour toute raison professionnelle ou légale. Nous supprimerons ensuite vos données de manière sûre et sécurisée. À tout moment, vous avez la possibilité d’affiner vos préférences en termes de communication et de vous désabonner. 

Pour plus d'informations sur la manière dont JLL traite vos données personnelles, veuillez consulter notre déclaration de confidentialité.

Last Updated Date: 08 Nov 2021

Vous avez des questions ? Consultez notre page FAQ

Financement JLL

JLL peut vous accompagner dans le financement et la gestion de votre portefeuille.
Contactez-nous pour découvrir comment nous pouvons vous aider.