HFF Brokers Sale of 191-Key VA Hotel
- Jun 20, 2018
Noble Investment Group has purchased Westin Reston Heights, a 191-key full-service hotel in the Washington, D.C.-area. HFF arranged the sale on behalf of the seller and the floating-rate acquisition financing with a balance sheet lender, on behalf of the buyer.
The property is located at 11750 Sunrise Valley Drive in Reston, Va., adjacent to Route 267. Dulles International Airport is a 10-minute drive away and the future Reston Town Center Metrorail Station, due to be completed in 2019, is within walking distance of the site. The station will include a pedestrian walkway along Reston Parkway, providing direct access to the hotel.
Westin Reston Heights opened in 2008. According to Asian Hospitality, JBG Cos. developed the hotel as part of a mixed-use project, Reston Heights, which also includes office, residential and retail space. The asset provides a series of amenities such as:
- 24-hour business center
- Vinifera Wine Bar & Bistro
- 1,000 square feet of flexible meeting and boardroom space
- rooftop fitness studio
- heated indoor pool
Senior Director Cyrus Vazifdar led the HFF investment advisory team, while Senior Directors Chris Hew and KC Patel represented the borrower. In April, Noble Investment Group and InterContinental Hotels Group opened a dual-branded hotel in Seattle. The property comprises 235 guestrooms and suites.
Image courtesy of Nick Waring