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October 19, 2010

Barclays Capital to Auction US St Regis

Barclays Capital has begun the process to auction the St Regis hotel in Washington, US, following foreclosure proceedings on owners Claret Capital. The 150-room, 25-suite St Regis Washington underwent two major renovations in the past 23 years. Irish equity firm Claret Capit

By cms admin

Barclays Capital has begun the process to auction the St Regis hotel in Washington, US, following foreclosure proceedings on owners Claret Capital.

The 150-room, 25-suite St Regis Washington underwent two major renovations in the past 23 years.

Irish equity firm Claret Capital bought the hotel in 2007 for $170m, according to The Washington Post.

Barclays provided two loans totalling $135m to finance the sale to Claret, according to New York-based research firm Real Capital Analytics.

Barclays plans to sell the hotel through Harvey West Auctioneers after a previous auction, scheduled for late September, was cancelled.

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