WASHINGTON, DC-The developers behind the planned conversion of the Marriott Wardman Park tower building here into high-end condominiums are looking for equity investors for the venture.
The JBG Cos. of Chevy Chase, MD and the CIM Group LP of Los Angeles have hired Cassidy Turley to secure pre-sale or equity recapitalization in the project at 2660 Woodley Road NW, according to the Washington Business Journal. JBG and CIM acquired the 1,334-room hotel about eight years ago for approximately $300 million.
The developers hope to start work on the condo conversion project that would involve about 37 units by November of this year and complete the venture in about a year. See story in the Washington Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
