DC-Area Hyatt Regency Changes Hands for $47M
- Jul 25, 2018
Wheelock Street Capital has purchased Hyatt Regency Dulles, a 316-key, full-service hotel in Herndon, Va. According to public records, the asset traded for $47.1 million. HFF secured the $40 million five-year, floating-rate acquisition financing for the borrower.
The property at 2300 Dulles Corner Blvd. is situated near Dulles International Airport, at the intersection of Dulles Access Road (Route 267) and Route 28. In April, Monday Properties purchased Dulles Metro Center, the office building adjacent to the site. Downtown Washington, D.C. is roughly 26 miles away.
Built in 1988, the 13-story Hyatt Regency Dulles includes an Executive Meeting Center, constructed in 2014. The 29,000-square-foot, LEED Silver- and IACC-certified meeting and event space encompasses:
- outdoor gazebo reception
- full-service restaurant
- Express O’s coffee shop
- lobby bar
- newly renovated fitness center
- indoor lap pool
- hot tub
- walking and jogging paths
The HFF debt placement team included Managing Director Steven Klein and Senior Director Chris Hew.
Image courtesy of HFF