D.C. set an all-time record with 20.2 million visitors in 2014, thanks in large part to a 16 percent boost in international visitors over the previous year.
About 90 percent of the city’s visitors still come from within the United States, but international visitors are an attractive target for tourism officials because they typically stay longer.
When it comes to trends in the lodging industry, boutique is where it’s at. Since Starwood started the W Hotel chain in 1998, the market’s been on fire. From treadmills and organic foods for health aficionados, to neon lights and mobile apps for Millennials, these 17 chains are quickly becoming the hottest hotels everyone’s talking about.
Douglas Development Corporation, which began work to reshape D.C.’s historic Uline Arena this spring, has secured a total of $94 million in construction financing for the mixed-use project.
That will cover about 75 percent of the project’s expected cost. Douglas Development is covering the rest.
Natixis Real Estate Capital has provided a $75.5 million construction loan. EB5 Capital is providing $18 million in preferred equity.
Douglas Development Corporation received a $75.5 million construction loan from Natixis Real Estate Capital for the redevelopment of Washington, D.C.’s Washington Coliseum, Commercial Observer has learned.
The financing will be used to fund about 67 percent of the Uline Arena redevelopment project in D.C.’s NoMa neighborhood. The Natixis loan features a three-year term with two one-year extension options.
Phillips Realty Capital of Bethesda appointed Joe Tilley chief financial officer of EB5 Capital.