Hotel At The Wharf Lands $99M Refinancing: The D.C. Deal Sheet
A 278-room hotel on D.C.’s southwest waterfront has been recapitalized.
CarrAmerica obtained a $99M refinancing loan from Morgan Stanley for the InterContinental hotel at The Wharf, Newmark, which brokered the deal, announced this week.
The hotel includes restaurant Willowsong, bar The Watering Hole, a spa, a rooftop pool and more than 17K SF of meeting and event space. Newmark’s Jordan Roeschlaub, Nick Scribani, Tyler Dumon and Tate Keir arranged the financing.
The deal comes after the majority of the $3.6B Wharf megaproject was recapitalized last year, when Canadian pension fund PSP Investments bought out the stakes of developers Hoffman & Associates and Madison Marquette and then secured a $1B loan. The InterContinental — which was built by a separate partnership of CarrAmerica, IHG and Clark Enterprises — wasn't part of that deal.
LEASES
Carr Properties’ The Wilson office building in Bethesda has reached full lease-up with the expansion of its anchor tenant and a new gym lease, the landlord announced. Insurance giant Geico increased its footprint by 21K SF to 121K SF, now occupying floors one through six at 7272 Wisconsin Ave. Barry’s inked a 4K SF lease on the ground floor, its first location in Maryland.
SALES
Brookfield and DWS Asset Management sold the 285K SF office building at 2001 M St. NW to Stream Realty Capital for $163M, Bisnow first reported Wednesday. Brookfield overhauled the building in 2016, adding two stories of office space, and secured law firms that brought its occupancy to 95%.
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TA Realty's data center arm sold two data center buildings in Leesburg that are leased to a hyperscale tenant, the developer announced. The buildings, totaling 745K SF, are the first two of five planned buildings at the site, set to hold 450 megawatts. They are all for the same hyperscaler, though the name of the user was undisclosed. The address and tenant were also not disclosed.
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The price BXP secured when it sold the 508-unit Signature apartment building at Reston Town Center is now public. The REIT, which delivered the property in 2018, offloaded it at the beginning of January for $236M, according to Fairfax property records. The sale was first reported to be in the works in November by Green Street's Real Estate Alert. The buyers were New York-based Sterling Investors and Denver-based Simpson Housing. Affinius Capital originated an acquisition loan for an undisclosed amount, the lender announced last month.
The Bowie Town Center mall sold for $50M, buyer Community Realty Corp. announced Tuesday after Bisnow reported the deal last Friday. CRC, which acquired the property in partnership with Nile Equity Group, said it obtained a loan from Benefit Street Partners' CMBS group.
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Spring Education Group sold a Tysons office campus that is leased to a private school for $103M, the Washington Business Journal reported. An affiliate of Store Capital Corp. purchased the 244K SF property at 8000 Jones Branch Drive. Basis Independent Schools, a subsidiary of Spring Education Group, has been there for a decade. The property’s assessed value for 2025 was $53.4M.
FINANCING
A Georgetown warehouse-to-hotel conversion has landed a $42M C-PACE construction loan. Netherlands-based Another Star secured the financing for its planned 230-room CitizenM Georgetown at 3401 Water St. NW. The property will be operated by Another Star as part of the Marriott Bonvoy portfolio. It includes 2,600 SF of retail.
