SILVER SPRING, MD—The undisclosed owner of 260-room Hilton Washington, DC/Silver Spring here has obtained $26 million in non-recourse financing for the property. PMZ Realty Capital’s hotel finance group arranged the debt.
According to PMZ, the undisclosed non-recourse lender that provided the permanent financing was attracted to the consistent performance and experienced long-term ownership of the property.
In the course of searching for new financing, the ownership was unable to obtain acceptable financing from its previous financing relationships.
The hotel’s owner will now use the financing to pay off existing debt and renovate the hotel.
The hotel offers 20,000 square feet of meeting space and full-service dining options.
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