Washington, D.C., September 6, 2025
News Summary
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.
Hospitality buyer acquires downtown D.C. Marriott in roughly $128 million deal; seller provides large portion of financing
A Newport Beach hospitality owner has purchased the Washington Marriott at Metro Center in downtown Washington, D.C., in a transaction recorded at about $127.99 million (commonly rounded to $128 million). The deal adds one of the city’s largest convention-capable hotels to the buyer’s portfolio and includes seller-provided financing that covers most of the purchase price.
Key facts up front
The hotel sits at 775 12th Street NW and offers roughly 13,000 square feet of event and meeting space. Reported room counts vary by source, listing the property with either 454 or 459 keys. Renovations were completed in May 2023, and the buyer’s financing includes a roughly $114 million loan provided by a trust affiliated with the seller.
Buyer, seller and financing
The purchaser is a Newport Beach-based hotel owner that operates more than a dozen hotels totaling just over 2,000 rooms, most of them in California with one other out-of-state property noted in Colorado. The seller is a Bethesda, Maryland–based real estate investment trust that has owned the asset in various corporate forms for decades; the seller’s ownership lineage stretches back to the 1990s and includes past corporate restructurings tied to the broader hotel company.
Deed records show a mortgage tied to the sale of about $114 million, while other reporting rounded the seller-provided financing figure to $113.75 million. Recorded transaction values for hotels sometimes exclude the value of furniture, fixtures and equipment, which can cause a divergence between the recorded deed amount and the total economic consideration.
Property and recent capital work
The hotel underwent a multi-million-dollar renovation program completed in May 2023. Upgrades in recent years included a redesigned front entrance and lobby, a refreshed fitness center, a new restaurant and an executive lounge. The property connects directly to an entrance for a major central metro station, and it sits next to a vacant office building currently slated for demolition to make way for a new 320,000-square-foot office tower.
Market context and comparisons
The transaction ranks among the larger hotel sales in the city so far this year and exceeded other notable downtown transactions earlier in the year. Local market activity also includes a range of hotel transfers and loan workouts, from foreclosure-related ownership changes to repositionings and leasehold sales at high-profile downtown properties.
Other hotel and resort deals and projects in this industry roundup
Alongside the Washington deal, several other hospitality financings and developments are advancing:
- A developer secured a first-lien construction loan of about $40.89 million to build an 8-story, 144-key full-service boutique hotel in Fort Lauderdale that will include a multi-level parking garage and sit near airport, cruise and rail nodes.
- A South Carolina owner completed its first Texas acquisition, purchasing a 141-key extended-stay property in a mixed-use district and planning interior and exterior refreshes.
- A major owner refinanced a 674-room convention hotel with a new roughly $218 million commercial mortgage-backed securities (CMBS) loan and secured an additional $53 million of preferred equity from an institutional investor, increasing total preferred equity to about $88 million. The new loan reduced the spread versus the prior loan and is structured as a five-year, fully extended facility.
- A municipal-style C-PACE lender arranged $16.5 million in construction financing for a 105-room Tribute by Marriott in coastal California, which will include a rooftop amenity with ocean views and is set to start construction shortly with completion expected in 2027.
- A Miami developer has broken ground on an ultra-luxury resort in the Bahamas that will include 33 bungalows, private yacht slips and marina capacity for vessels up to 120 feet. The first phase is under construction with phased openings planned through late 2028 and projected to produce significant multi-year economic impact and full-time jobs locally.
- A London-based hotel developer completed the purchase of a City of London development site for about £17.5 million with planning permission to build a lifestyle-branded hotel and office component; the expected total project cost is near £90 million.
Why this sale matters
The deal highlights active capital recycling in the hotel sector, where owners reposition assets after renovation cycles and sometimes provide significant seller financing to complete transactions. The property’s downtown location, large event capacity and recent upgrades make it a strategic urban convention and corporate lodging asset. The sale also underscores continued interest in gateway-city hotels despite a varied performance backdrop across U.S. markets in recent weekly industry snapshots.
Frequently Asked Questions
What exactly sold and for how much?
The Washington Marriott at Metro Center changed hands for a recorded price of about $127.99 million, commonly reported as $128 million. Deed records show seller-related financing covering a large portion of the purchase.
How many guest rooms does the hotel have?
Reported room counts vary, with sources listing either 454 or 459 keys.
Who provided financing for the buyer?
The seller provided a mortgage tied to the sale through an affiliated business trust in the range of $113.75 million to $114 million, according to public deed filings and transaction reports.
Does the recorded sale price include furniture, fixtures and equipment?
Recorded deed prices often exclude the value of furniture, fixtures and equipment, so the recorded amount may not reflect total transaction consideration.
What other deals were included in this industry roundup?
The roundup covered a Fort Lauderdale hotel construction loan, an extended-stay acquisition in Texas, a major convention-hotel refinance, a C-PACE construction financing for a California Tribute by Marriott, a luxury Bahamian resort groundbreaking, and a London site purchase for a lifestyle hotel and office development.
Key features at a glance
| Item | Detail |
|---|---|
| Property | Washington Marriott at Metro Center — 775 12th Street NW, Washington, D.C. |
| Recorded sale price | $127.99 million (commonly rounded to $128 million) |
| Reported keys | 454 or 459 (varies by report) |
| Event/meeting space | 13,000 sq ft |
| Recent renovation | Completed May 2023; lobby, entrance, fitness, F&B and lounge upgrades |
| Seller-provided financing | Approximately $113.75M–$114M per deed and transaction reporting |
| Buyer profile | Newport Beach-based hotel owner with 13 hotels and just over 2,000 rooms |
| Other roundup highlights | Fort Lauderdale construction loan; Nashville hotel refinance; Bahamas luxury resort groundbreaking; London development site purchase; C-PACE financing for California Tribute hotel |
Deeper Dive: News & Info About This Topic
Additional Resources
- Commercial Observer: T2 Hospitality buys Washington Marriott at Metro Center
- Wikipedia: Washington Marriott at Metro Center
- Bisnow: Host Hotels sells downtown D.C. Marriott to California company
- Google Search: Host Hotels sells Washington Marriott Metro Center
- NBC Washington: Marriott Tribute Chinatown hotel coming to D.C.
- Google Scholar: Marriott Tribute Chinatown Washington DC
- Hotel Online: Washington Dulles Marriott Suites renovation
- Encyclopedia Britannica: Washington Dulles Marriott Suites
- Washington Post: Marriott conference-center contract labor (June 21, 2025)
- Google News: Marriott conference center contract labor
Author: Construction NY News
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