On behalf of Clearview Hotel Capital and Oaktree Capital Management, Newmark Knight Frank has arranged a $225 million floating-rate loan for the refinance of the Washington Hilton, located in the Dupont Circle submarket of Washington D.C.
The Newmark Knight Frank team led by Dustin Stolly and Jordan Roeschlaub, Vice-Chairmen and Co-Heads of Debt & Structured Finance, as well as Chris Kramer and Nick Scribani arranged the financing, along with Lawrence Wolfe and Miles Spencer from NKF’s lodging capital markets group. Barclays provided the loan.
The 1,107 key, iconic hotel features more than 110,000 square feet of highly flexible meeting and conference space and a variety of food and beverage outlets. In 2017, 37 guestrooms and 10,000 SF of meeting space were added. The Hotel hosts presidents, domestic and foreign dignitaries and notable figures from around the world at prestigious events which include the White House Correspondents’ Dinner and the National Prayer Breakfast.
“After undergoing a transformative restoration, this market-leading, iconic hotel continues to capture demand from Washington D.C.’s constant flow of travelers and has been established as the premier group hotel in the market,” said Stolly.
“Clearview Hotel Capital and Oaktree Capital Management operate as a world-class partnership that together owns four hotels totaling over 3,700 rooms. Their combined expertise and impressive track record make them ideal sponsors to drive sustainable growth in this historic asset,” said Roeschlaub.
Headquartered in Newport Beach, California, Clearview Hotel Capital is a privately held hotel investment and advisory company focused on acquiring and asset managing hotels in urban and unique locations. Clearview has acquired over $1.5 billion of hotels containing over 10,000 rooms. Oaktree Capital Management is a leading global alternative investment management firm with expertise across all asset classes.
