RCA in the commercial property press:


Barclays Reclaims DC's Distressed St Regis from Unlucky Irish Investors


Monday, October 18, 2010
Source: Radio Telefìs Éireann News (IE)


Radio Telefìs Éireann News (IE) reports: The five-star St Regis Hotel in Washington, DC – an architectural landmark of the Capitol City – has been repossessed by Barclays Capital and is to be held at auction on October 22.

In doing so, Barclays is attempting to recover the two loans originally made on the property back in 2007, at the height of asset valuation, when the Irish private-equity firms Claret Capital and First Friends purchased it for $170 million. According to Real Capital Analytics data, the original acquisition loans totaled $135 million. At the time of purchase, though it had previously sold for just $45 million less than two years prior, Claret heralded the hotel as a “unique investment opportunity.”


View the full article on Radio Telefìs Éireann News (IE): Barclays Reclaims DC's Distressed St Regis from Unlucky Irish Investors


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Posted by: Nina Turner

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