WASHINGTON, DC-Mortgage banking firm LJ Melody & Co. closes on a financing deal for the Churchill Hotel, a 144-room luxury property on Embassy Row in the popular Dupont Circle area of the District. LJ Melody secured an $18.5 million refinancing package on behalf of hotel owner Winston LLC. The funds, which are in the form of a floating-rate loan, courtesy of CDC Mortgage Capital.

The four-year loan will allow the owner to refinance debt on the property and pay down an outstanding mezzanine loan. Winston LLC acquired the Churchill three years ago for approximately $20 million.

The Churchill is an historic destination that got its start as an upscale apartment building back in 1906. It was not until 1991 that the property, currently assessed at a value of just over $12 million, was converted into a hotel. Today the hotel features 4,200 sf of meeting and event space, a restaurant and an exercise facility.

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