CIM Group closes $31m loan to CarrAmerica for Hotel Indigo Old Town Alexandria

CIM Group announced that its CIM Real Estate Debt Solutions business, on behalf of a CIM-managed fund, has closed a $31 million whole loan to an affiliate of CarrAmerica to refinance the Hotel Indigo Old Town Alexandria in Alexandria, Va.

Hotel Indigo Old Town Alexandria is a five-story, 120-room compact full-service hotel located at 220 S. Union Street in Alexandria. The property is in a highly desirable location on the Potomac River and adjacent to the King Street retail corridor, which boasts approximately 400 local, national and international boutique retailers and a wide range of restaurants. Hotel Indigo Old Town Alexandria is an attractive option for leisure, corporate business and government travelers. In addition to its Old Town location and proximity to King Street, it is well positioned near centers for business and government.

Carr developed Hotel Indigo Old Town Alexandria in 2017. The property holds LEED silver certification and offers an all-day restaura