Tuesday, March 10, 2015

HFF secures $32 million in financing for development of Hyatt Place in Arlington, VA


Hyatt Place Arlington, Arlington, VA

WASHINGTON, D.C.  --  HFF announced today that it has secured $32 million in financing for the development of the Hyatt Place Arlington, a 161-key, select-service hotel in Arlington, Virginia.

HFF worked on behalf of the borrower, a partnership between Schupp Companies and LodgeWorks Partners, L.P., to secure the five-year senior construction loan through EagleBank. 

Additionally, HFF arranged mezzanine financing on behalf of the borrowers through Endeavor Real Estate Group, Ltd.

                The new Hyatt Place Arlington will be located at 2401 Wilson Boulevard at the intersection of Wilson Boulevard and North Adams Street in the Rosslyn-Ballston corridor one block from the Courthouse Metro (Orange Line) and the Arlington County Courthouse.

Cyrus Vazifdar

In addition to the 161 hotel rooms, the hotel’s 93,000 square feet will contain 1,200 square feet of street-level retail space, a café and bar on the first floor and a two-level underground parking garage.  

The hotel, which broke ground in January 2015, will be completed in 2016.

The HFF team was led by managing director Mark Remington and associate directors Cyrus Vazifdar and Neil Campbell.

“Schupp Companies and their partners are dedicated to the Hyatt Place Arlington obtaining LEED Gold Certification, which would make the property Arlington’s first LEED Gold hotel and Hyatt’s first LEED Gold Hyatt Place in the United States,” Remington said.


For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

www.lodgeworks.com.


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