Sotherly Buys $81M Hyatt Centric in VA
- May 03, 2018
Sotherly Hotels Inc. has acquired Hyatt Centric Arlington, a full-service hotel in the Rosslyn District of Arlington, Va., for $81 million. Berkadia’s Hotels and Hospitality Group arranged acquisition financing on behalf of Sotherly.
Located at 1325 Wilson Blvd., the 318-key Hyatt Centric Arlington offers suites, hypoallergenic and business plan guestrooms. Amenities include free Wi-Fi, a cityhouse restaurant, a Key Bridge Terrace bar, a 24-hour fitness center, a gift shop, a 24-hour business center, 6,723 square feet of meeting and event space, as well as a Hyatt Has It, which delivers food, drinks and travel essentials directly to a guest’s room. The hotel is within close proximity to Washington, D.C. attractions including Capitol Hill, the White House, Lincoln Memorial, National Air & Space Museum and the Kennedy Center.
Managing Directors Kyle Stevenson, David Weymer and Mark Morris, as well as Senior Directors Dan Hawkins and Matthew Bailly completed the sale. Senior Managing Director Andy Coleman and Director Mauricio Rodriguez advised the buyer on the financing.
“The Hyatt Centric is located near a Washington Metro stop and is surrounded by over 10 million square feet of office space with an additional four million square feet under development,” said Morris, in a prepared statement. “The Rosslyn tenant roster includes several blue-chip companies, defense contractors and federal agencies. The hotel also looks amazing following a recent renovation and rebranding.”
Last October, Sotherly Hotels opened the DoubleTree Resort by Hilton Hollywood Beach, a 311-key renovated resort in Hollywood, Fla.
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