Investment Summary
The Richmond Marriott West is a 242-room, full-service hotel located at Innsbrook Corporate Center in Henrico County, VA. Built in 2001, the hotel is a 6-story structure with 7,100 SF of meeting space, a full-service restaurant, pool, and fitness facility. LCP initially purchased the loan secured by the fee simple interest in the asset, subsequently taking fee simple ownership of the property through a deed in lieu of foreclosure. LCP executed a Property Improvement Plan (“PIP”), recapitalized with new debt, and took over as the owner-operator of the hotel, ultimately exiting the investment via recapitalization in March of 2017.
