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.