Two loans tied to hotels in Maryland and Virginia have defaulted, indicating challenges beyond office vacancies, as reported by the Washington Business Journal.  

The $204 million loan spans 22 properties, including Marriott hotels in Greenbelt and Alexandria. Another $415 million loan covers 30 properties, including Courtyards in Herndon and Rockville. The debt on hotels in Greenbelt and Alexandria has been in default since 2020, with a deed in lieu of a transfer agreement underway. A similar loan tied to hotels in Herndon and Rockville remains in special servicing with no resolution. 

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