Berkadia Hotels & Hospitality has been exclusively retained in connection with the solicitation of offers to acquire the fee simple interest in the 316-room Fairfax Marriott at Fair Oaks (the ‘Hotel’ or ‘Asset’), a high-performing, award-winning, full-service hotel, benefiting from Marriott’s global flagship brand in one of the most highly-coveted submarkets of the renowned Washington, DC Metro – Fairfax, VA. A rapidly growing region characterized by numerous large-scale development and expansion plans, prominent Fortune 500 offices, a proliferating technology sector, esteemed higher education institutions, world-class medical centers, and stabilizing presence of government organizations and agencies, the Marriott is highly anticipated to continue to outperform the market as the lodging industry stabilizes with a re-opening economy and realize significant long-term growth thereafter.
At the asset level, a new owner will have the rare opportunity to acquire a six-story, concrete-constructed, premium-branded hotel, enjoying status as Marriott’s largest brand by distribution in the Upscale segment, in a perennial top 25 US metropolitan lodging market primed for future growth. Moreover, as a result of the Hotel’s irreplaceable and highly accessible location, industry-leading loyalty program, and premier meeting and event space, the Asset has demonstrated the innate ability to consistently generate significant revenues, despite being the oldest hotel in the competitive set. Furthermore, upon completion of a change of ownership PIP, a new owner will have the ability to leverage the Hotel’s enhanced product offering and amenity base to position the Marriott as the lodging market’s top performing hotel. These unique characteristics, coupled with impressive in-place operating margins, no new supply, and being offered at a basis well-below replacement cost, present a lodging investment opportunity unlike any other.
Senior Real Estate Analyst
Senior Managing Director
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