1999 Richmond LP Acquires Crystal City Marriott Hotel In Arlington, VA For $65.8M
1999 Richmond Highway
$65,800,000
Building Size
—
Asset Type
Hotel
Closing
Oct 30, 2023
About this deal
AI
An affiliate of JBG Smith Properties, JBGS Hotel Owner LLC, has sold the Crystal City Marriott located at 1999 Richmond Highway in Arlington, VA. The transaction took place on October 30, 2023, and the sale price was $65,800,000. The hotel consists of 343 keys, resulting in a price per key of approximately $191,836.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $65,800,000
- Address: 1999 Richmond Highway, Arlington, VA
- Market: Arlington, VA
The buyer, 1999 Richmond LP, purchased the Crystal City Marriott from an affiliate of JBG Smith Properties. The seller in this transaction was represented by their broker, JBG Smith Properties' REP. The sale of the hotel marks a significant transaction in the Arlington market.
On the Map
$65,800,000
Hotel
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Players
Arlington Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93