Carmel Partners Wins Auction For D.C.’s Wardman Park Hotel With $152M Bid

The historic Washington Marriott Wardman Park Hotel has found a buyer, potentially setting up a conversion of the property to residential. 
An affiliate of Carmel Partners, an investor that primarily owns multifamily properties, won an auction Tuesday with a winning bid of $152.25M, court records show. 
A hearing was held Thursday on the sale agreement before a Delaware bankruptcy court judge. The winning bid came after 129 rounds of bidding, an attorney representing the seller said at the hearing. The judge, John T. Dorsey, said he will be willing to enter an approval of the sale after seeing the final version, which will include some amendments discussed during the…

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