Douglas Development Corporation’s original loan for the 200-key, 14-story hotel at 1011 K Street NW in Downtown Washington, DC was comprised of $35-million loan held by BHI and a $10.6-million mezzanine piece held by another investment firm.
Fareri Associates president John Fareri tells Globest.com that the first phase of the project would involve the development of approximately 500,000 square feet of space, including an approximately 135-room hotel, biotechnology-medical and retail space.
The $1 billion project is breaking a lot of barriers with features like a 850-foot LED screen, the largest in the country, and a 100-foot, two-acre sky park.
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