Offering Update: Washington D.C. Hospitality Property

Abstract banner showing real estate in Washington D.C. meant to illustrate progress on hospitality property

Offering overview

Yieldstreet Commercial Real Estate provided a $4.2M mezzanine loan to a Washington, D.C. based real estate developer and manager. The Loan is secured by the pledge of the Borrower’s equity interest in its subsidiary, which owns the leasehold interest in a 99-unit limited service hotel in Downtown Washington, D.C. The Sponsor used the Loan proceeds, alongside an $18M senior bank loan, to acquire the Property and fund the renovation costs to convert the Property into 99 furnished short-term rental studio apartments.

  • The Sponsor has also executed a 15-year master lease with the Lessee for 100% of the Property’s units. The Lessee is a short-term rental operator managing a $4.1B portfolio of over 8,500 units. 
  • The Loan has an initial 36-month term with one 12-month extension option.

Offering update

Since the launch of the deal, the project has reached several milestones:

  • As of October 1, 2020, 75% of the general and low voltage demolition has been completed from the basement to the 10th floor, including the lobby demolition and eight floors of corridor and unit carpet removal, along with wire pulling and wire end crimping.
  • Mechanical, Engineering, and Plumbing (MEP) Demolition and Rough-Ins are 65% complete, with all plumbing fixtures having been removed. Electrical removal for floors two through five and piping removal on the second floor is ongoing.

Sign up or a Yieldstreet account or follow us on social to keep up with the latest offerings, product updates, and content. If you are in need of liquidity, please contact our originations team at [email protected] or submit an application here: Raise Capital.


How helpful is this content?

Share this article:

Join a community of 350,000+ members

  • Gain access to unique offerings previously reserved for the ultra-wealthy

  • Customize your portfolio for income, growth, or a balance of both

  • Get started today and earn an average IRR of over 8%

What investors are saying about Yieldstreet

Apr 2022

The due diligence, risk management, and product education materials are thorough, excellent, and easy to use and understand.

Manoj J
Member since 2019
Apr 2022

Excellent and unique selections that I can't find elsewhere.

Jonathan S
Member since 2019
Apr 2022

The platform delivers in a very concise manner. Easy to get a clear understanding at a glance from the web or mobile app.

Tim S
Member since 2021
The testimonials presented on this page have been provided by actual investors in Yieldstreet funds without compensation. Yieldstreet has selected the testimonials, and certain testimonials have been edited to remove personally identifiable information and for brevity. Testimonials were not selected based on objective or random criteria, but rather were selected based on Yieldstreet's understanding of its relationship with the providers of the testimonials. The uncompensated testimonials presented here may not be representative of other investors' experiences, and there can be no guarantee that investors will experience future performance or success consistent with the testimonials presented.

The Yield

Our weekly podcast providing ideas about how to make money work for you and bring you closer to your dreams.

Since inception, over $2.5B has been invested on Yieldstreet

Join today for free to access alternative investment opportunities.