JLL’s Hotels & Hospitality Group has arranged a $53 million refinancing for The Morrow Hotel, a 203-room lifestyle property in Washington, D.C.’s NoMa district. The hotel is owned by a joint venture between Trammell Crow Company and MetLife Investment Management, with financing provided by Peachtree Group.
The Morrow Hotel operates under Hilton’s Curio Collection brand and opened in November 2022 as part of an 810,000-square-foot mixed-use development. The project includes 640 apartments, 60,000 square feet of retail space and 350 below-grade parking spaces. The property features 203 guestrooms and suites, including 136 king rooms, 59 double queen accommodations and eight suites averaging 426 square feet. Guests have access to nearly 11,600 square feet of meeting and event space, anchored by a 2,400-square-foot ballroom that accommodates up to 250 people.
The hotel’s culinary program is led by chef Marcus Samuelsson, with the Marcus Samuelsson Group overseeing all food and beverage operations. The property features three dining venues: Marcus DC, which highlights Samuelsson’s Ethiopian roots and Swedish heritage; Sly’s Rooftop Bar, offering panoramic city views; and Goodie, an 11th-floor speakeasy set to open in Winter 2025.
“This transaction highlights Peachtree Group’s ability to deliver creative financing with speed and certainty for premier hospitality assets,” said Jared Schlosser, head of originations and CPACE for Peachtree Group. “The Morrow is exactly the type of institutional-quality property where our platform creates lasting value for our partners.”
The hotel’s location provides convenient access to Union Market, 0.3 miles away, and the United States Capitol, 1.2 miles away, as well as the NoMa-Gallaudet University Metro station. Guests can also reach the National Mall, Smithsonian museums and Walter E. Washington Convention Center easily.
“The refinancing demonstrates continued institutional confidence in Washington, D.C.’s hospitality sector as the market benefits from its diverse economic base anchored by federal government presence, robust education sector and growing technology industry,” said Kevin Davis, Americas CEO of JLL. “The Morrow exemplifies the types of hotels that are finding strong reception in today’s debt markets, particularly with best-in-class sponsorship like Trammell Crow Company and MetLife Investment Management behind it.”
The JLL’s Hotels and Hospitality team leading the transaction included Kevin Davis, Mark Fisher, Connor Medzigian and Malia Buljat.
