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3111 Fairview Park Drive

Bridge Investment Group Loans $40M For Marriott Fairview Park Hotel In Falls Church
FINANCEDHotel

Bridge Investment Group Loans $40M For Marriott Fairview Park Hotel In Falls Church

3111 Fairview Park Drive

$40,000,000

Building Size

Asset Type

Hotel

Closing

Apr 18, 2024

AI

The 395-room Marriott Fairview Park Hotel in Falls Church, Va., located at 3111 Fairview Park Drive, was the subject of a $40 million loan from Bridge Investment Group. The loan was facilitated by Berkadia, with Lakewood Hotel Group serving as the landlord.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $40,000,000
  • Keys: 395
  • Lender: Bridge Investment Group
  • Landlord: Lakewood Hotel Group
  • Broker: Berkadia

Berkadia played a crucial role in facilitating the financing for the $40 million loan extended by Bridge Investment Group for the Marriott Fairview Park Hotel. This collaboration highlights the key individuals and companies involved in the transaction, showcasing the expertise and partnerships within the hospitality real estate sector.

Players

Charlene O’Connell

Choyce Peterson

Broker

$49.2M

vol

3 deals

Broker
Bridge Investment Group
Bridge Investment GroupLender

Falls Church Hotel Market Snapshot

Boundary boundary · Hotel · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.40%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93