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| Sheraton Reston Hotel, Reston, VA |
WASHINGTON, D.C. –– Holliday
Fenoglio Fowler, L.P. (HFF) announces the sale of Sheraton Reston Hotel, a
298-room, full-service hotel in a growing submarket in the Washington, D.C.
suburb of Reston, Virginia.
The HFF team marketed the property on behalf of the seller.
DoveHill Capital Management purchased the hotel unencumbered by an existing
management agreement. Wurzak Hotel
Group will manage the hotel.
Originally opened in 1973, the six-story Sheraton Reston Hotel was
substantially renovated in 2014 to upgrade the guestrooms and 22,000 square
feet of meeting space, renovate the restaurant lounge, update the lobby to
incorporate a grab-and-go food and beverage market and expand the club
lounge.
Additional hotel features include the Syrah
Restaurant and Cosmopolitan Lounge, a state-of-the-art fitness center, outdoor
pool with sun deck, business center and views of the adjacent Reston National
Golf Course.
Situated at 11810 Sunrise Valley Drive, the
hotel is in Reston, the second largest office market in Fairfax County, and in
the heart of the Reston Master Plan, which consists of 22,000 new residential
units, more than eight million square feet of new office space and 700,000
square feet of retail.
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| Cyrus Vazifdar |
The HFF investment advisory team representing the seller included
senior director Cyrus Vazifdar.
“Reston’s growth has been prolific over the past cycle, and we
expect the market to continue to mature with the tremendous scale of current
development,” Vazifdar said. “Reston’s existing hotel stock will benefit
greatly from the market’s continued evolution.”
For more
information, please contact:
HFF Digital Content/Public Relations Specialist
(713) 852-3420
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