[New post] Carmel Partners Buys D.C. Hotel at Auction; Residential Conversion Planned

Dan Moynihan posted: "Bisnow Carmel Partners Inc. has paid $152.3 million, or about $132,205/room, for the 1,152-room Washington Marriott Wardman Park Hotel in Washington, D.C., at a foreclosure auction held this week. The previous owner, Pacific Life Insurance Co., thre" New post on Commercial Real Estate Direct Carmel Partners Buys D.C. Hotel at Auction; Residential Conversion Planned by Dan Moynihan Bisnow Carmel Partners Inc. has paid $152.3 million, or about $132,205/room, for the 1,152-room Washington Marriott Wardman Park Hotel in Washington, D.C., at a foreclosure auction held this week. The previous owner, Pacific Life Insurance Co., threw the property into Chapter 11 bankruptcy in January. Carmel, a San Francisco investor, submitted the winning bid after 129 […] Read more of this post Dan Moynihan | July 22, 2021 at 4:50 pm | Categories: General News, Mid-Atlantic | URL: https://wp.me/pcdE10-2i5H Unsubscribe to no longer receive posts from Commercial Real Estate Direct. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://crenews.com/2021/07/22/carmel-partners-buys-d-c-hotel-at-auction-residential-conversion-planned/