$46M Starwood Loan Heralds $300M Deal to Come

ROCKVILLE, MD-The last major financing Starwood Property Trust closed in the DC area was a complex $238-million package it co-originated for Monday Properties in the Spring. Now the REIT is back, financing a $46-million first mortgage loan on a 315-room Hilton here owned by JBG Cos.

The transitional loan, which JBG will be using to recapitalize the property and invest in a renovation, is a far more straightforward transaction than the Monday deal. However, Starwood president and director Boyd Fellows tells GlobeSt.com that the REIT is working on another complex transaction that it hopes to close by year-end that is valued at $300 million. “There are definitely more deals to come for us in the DC area.”