The Washington Marriott at Metro Center, adjacent to the Metro Center station and a planned office tower site.
Washington, D.C., September 6, 2025
Newport Beach-based T2 Hospitality has purchased the Washington Marriott at Metro Center in downtown Washington, D.C., in a deal reported at roughly $127.99 million (recorded about $128 million). The full-service hotel, listed with 454–459 keys, works out to roughly $281,916 per key and offers about 13,000 square feet of event space. A major renovation was completed in May 2023. The seller was a subsidiary of Host Hotels & Resorts and the transaction included seller-provided financing recorded at about $114 million. The location’s transit access and nearby office development helped drive buyer interest.
Key deal: Newport Beach-based T2 Hospitality has purchased the Washington Marriott at Metro Center for roughly $128 million. Deed records list the price at about $127.99 million, or roughly $281,916 per key based on some counts. Reports differ on room totals, listing either 454 or 459 keys. The hotel sits at 775 12th Street NW in downtown Washington, adjacent to an entrance to the Metro Center rail station and next to a site being cleared for a new office tower.
The property includes about 13,000 square feet of event space and completed a major renovation in May 2023 that refreshed the front entrance, lobby, fitness center, restaurant and executive lounge. The seller was a Bethesda-based real estate investment trust that had owned the hotel since the mid-1990s and has invested millions into upgrades over recent years.
Records show the buyer secured substantial seller-assisted financing tied to the sale. Deeds indicate a loan near $114 million from a related trust. Some reports list the seller financing at $113.75 million. Recorded sale prices for hotels sometimes exclude the value of furniture, fixtures and equipment, which can affect the number that appears in public records.
The transaction is one of the larger hotel trades in the Washington, D.C., market this year and exceeds several recent local deals. The buyer operates a portfolio of about 13 hotels totaling just over 2,000 rooms, mostly on the West Coast, and this purchase appears to be its first in Washington, D.C.
A Miami-area developer closed a first-lien construction loan to build an 8-story, 144-key, full-service Hotel Indigo in Fort Lauderdale. The loan covers a project that will include a multi-level parking structure with about 109 parking spaces. The site is close to the airport, cruise terminals, the convention center and the intercity rail station.
A South Carolina development firm acquired a 141-key Hyatt House in a central Dallas neighborhood as its first property in the state. The buyer plans to refresh guest rooms, common areas and outdoor leisure spaces.
A 674-room urban hotel has been refinanced with a new $218 million commercial mortgage-backed securities loan and an additional $53 million of preferred equity from a capital investor. The new financing pays off a prior CMBS loan and adjusts pricing to current market indexes. The preferred capital stack has also been upsized and re-priced as part of the transaction.
Concord Summit Capital arranged $16.5 million in C-PACE construction financing for a 105-room Tribute Hotel in Santa Barbara that includes a rooftop amenity facing the Pacific. Construction is scheduled to start soon with completion targeted for 2027.
A Miami-based developer broke ground on an ultra-luxury resort in the Exuma islands. The first phase includes beach bungalows and marina slips for private yachts, with phased openings expected between mid-2028 and late 2028. The full project is positioned as a major private investment with long-term job and economic impact projections for the region.
A European hospitality fund completed a land buy near the City of London for about £17.5 million to develop a Radisson RED lifestyle hotel and associated office space. The site has planning permission and the fund expects a multi-year development program with an anticipated all-in investment of roughly £90 million.
Recent weekly hotel data showed modest year-over-year gains in average daily rate and revenue per available room while occupancy was slightly down for the same week. Performance varied widely across top markets, with some cities showing notable declines tied to specific local events and others posting gains in occupancy.
Key items to follow include confirmation of the final room count for the Washington Marriott transaction, any public filings that explain the seller’s decision to sell, and whether the buyer moves forward with additional capital plans or repositioning in the D.C. market. Watch for construction schedules and financing closes on the other projects noted here, which will affect local construction activity and hospitality employment in those regions.
The recorded sale price was about $127.99 million, commonly rounded to $128 million in public records.
Reports vary, listing either 454 or 459 keys. Public filings or the new owner’s disclosures should confirm the final count.
Deed records show a large portion of the financing came from a trust affiliated with the seller, documenting a loan near $114 million.
Yes. The property completed a renovation in May 2023 that updated public spaces, guest amenities and other facilities.
Recent activity includes construction financing for a Hotel Indigo in Fort Lauderdale, a Santa Barbara Tribute Hotel with C-PACE funding, a Radisson RED site purchase near the City of London, a high-end resort breaking ground in the Exuma islands, and several ownership and refinance moves in U.S. markets.
| Item | Detail |
|---|---|
| Property | Washington Marriott at Metro Center |
| Address | 775 12th Street NW, Washington, D.C. |
| Sale price (recorded) | ~$127.99 million |
| Reported room count | 454 or 459 keys (reports vary) |
| Event space | ~13,000 sq ft |
| Renovation completed | May 2023 |
| Financing shown in deeds | Seller-provided loan near $114 million |
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