Natixis Finances a $25 Million Floating-Rate Loan In Washington, DC
Natixis provided a $25.0 million floating-rate loan to a joint venture between Westmont Hospitality and Varde Funds. The loan is collateralized by a 95-room limited service hotel located in the Foggy Bottom neighborhood of Washington, DC, adjacent to George Washington University. The purpose of the financing was to provide funds for the acquisition and renovation of the hotel with the intent to reposition it within the market. The hotel will continue to be operated and managed independently by Westmont Hospitality.