In April, the mansion at 201 Chain Bridge Road was ranked number three on The Washingtonian’s list of the area’s 50 most expensive homes. Now it will be sold at a foreclosure auction on September 27 at the Arlington County Courthouse. As we reported April, it is owned by a Prince Georges County native, Rodney P. Hunt, who apparently did well for himself—but maybe not well enough—when he sold his company RS Information Systems in 2008. He formed the Rodney P. Hunt Foundation and became chairman of a new enterprise called BTDG.
In May, PR Newswire reported that Hunt had just secured the first half—$5 million of a hoped-for $10 million—in debt financing for a restructuring of BTDG. At the time the company’s president said Hunt planned on “using his considerable resources in the debt and equity markets to reposition the stock from a pink-sheet company to a fully reporting public company, listed on a major exchange.” The stock shows virtually no activity on MarketWatch.
The home, however, is billed as “magnificent” in the auction notice. According to the published information, it has ten fireplaces, a gourmet kitchen, views of the Potomac River and the Washington skyline, a detached guest house and staff quarters, a basketball court, separate gyms and showers for men and women, a spa, indoor and outdoor swimming pools, a two-lane bowling alley, a movie theater, and parking for 18 cars.
We made an inquiry with the Hunt Foundation but have not yet heard back. Tranzon, a nationwide auction company, is handling the sale. We talked to someone in the local office to try to find out why the property was foreclosed upon. All he could say was, “Signs of the economy.”