Wednesday, March 6, 2019

HFF announces $26 million refinancing for Hyatt Regency Fairfax hotel in Fairfax, VA


Hyatt Regency Fairfax, 12777 Fair Lakes Circle, Fairfax, VA
WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged a $26.2 million refinancing for Hyatt Regency Fairfax, a 316-room, full-service hotel in the heart of Fairfax, Virginia.

The HFF team worked on behalf of the borrower, a partnership between The Carlyle Group and Songy Highroads LLC, to place the three-year, floating-rate loan with two one-year extensions with H.I.G. Realty Partners.  Loan proceeds will be used to retire existing debt.

Chris Hew

Situated in the heart of Fairfax County, the third wealthiest county in the United States and home to Northern Virginia’s largest defense and intelligence community demand drivers, the Hyatt Regency Fairfax is at 12777 Fair Lakes Circle and part of the 650-acre Fair Lakes mixed-use master planned community that includes 1.3 million square feet of office, two million square feet of retail and more than 2,000 residential units. 

The hotel, which is 23 miles from central Washington, D.C., has easy access to major commuter thoroughfares, including Interstate 66, the Fairfax County Parkway and Route 50. 

The 14-story hotel opened in 1989 under the Hyatt flag and has upgraded throughout the years.  It most recently underwent $12.2 million in renovations beginning in 2015 when the borrowers purchased it and executed their repositioning plan.

Drake Greer
  The Hyatt Regency Fairfax features 12,000 square feet of newly renovated, flexible indoor meeting space; an indoor pool that was recently renovated; whirlpool; sundeck; newly renovated 24-hour fitness center; 24-hour business center; and three food and beverage options, The NoVa Grill, NoVa Bar and NoVa Market.

The HFF debt placement team representing the borrower was led by senior director Chris Hew and director Drake Greer.

“The Hyatt Regency Fairfax is a fantastic asset that will continue to thrive and benefit from positive momentum in the submarket,” Hew said.
  

CONTACTS:

CHRIS HEW
HFF Senior Director
(202) 533-2500

DRAKE GREER           
HFF Director
(202) 533-2500

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420




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