WASHINGTON D.C. – April 30, 2018 – Berkadia’s Hotels and Hospitality group announced today the $81 million sale of Hyatt Centric Arlington, a full-service modern hotel property in Arlington, Virginia’s Rosslyn District. Managing Directors Kyle Stevenson, David Weymer and Mark Morris and Senior Directors Dan Hawkins and Matthew Bailly of the Washington D.C. Metro office completed the sale. The buyer was Sotherly Hotels Inc., based in Virginia.
Senior Managing Director Andy Coleman and Director Mauricio Rodriguez, also of Berkadia’s D.C. Metro office, advised Sotherly Hotels for the acquisition financing. The deal closed on March 2.
“Berkadia’s Hotels & Hospitality team was pleased to help the client execute an exit of this fantastic hotel, while at the same time helping a dynamic owner grow a strategic portfolio in DC’s strongest submarket,” said Morris. “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. 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.”
With 318-rooms and five suites, Hyatt Centric Arlington is located at 1325 Wilson Blvd., affording convenient access to downtown D.C. and the surrounding capital buildings and monuments, which are about three miles away and can be easily accessed via the Washington Metro. Guests can enjoy a 24-hour fitness center, a restaurant, a lobby bar and a business center.