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Unknown Buyer Acquires Property At 44620 Waxpool Rd Ashburn VA For $30 Million With Berkadia Representation

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SOLD
$30,000,000

Virginia

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SOLD

Unknown Buyer Acquires Property At 44620 Waxpool Rd Ashburn VA For $30 Million With Berkadia Representation

44620 Waxpool Rd, Ashburn, VA, 20147

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Hotel
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Summary

VIRGINIA
Asset Type:Hotel
Transaction Type:Sale

The property involved in this transaction is a dual-brand hotel offering, specifically Embassy Suites and Homewood Suites, located at 44610 and 44620 Waxpool Road, Ashburn, VA, 20147. The total sale price for the property was $30,000,000.00, which encompasses a 244-room suites product. The hotels provide various accommodations, including single rooms and suites. Amenities featured at the property include an outdoor pool, fitness center, on-site restaurant, complimentary airport shuttle service, pet-friendly rooms, and flexible meeting spaces. The property is located three miles north of Washington Dulles International Airport, with a 30-minute drive to Washington D.C.

Summary of transation details:

  • Property Type: Hotel
  • Transaction Amount: $30,000,000.00
  • Address: 44620 Waxpool Rd, Ashburn, VA, 20147
  • Market: Ashburn
  • Seller's Representative: Dan Hawkins-Berkadia, John Kluh-Berkadia, John Testerman-Berkadia
  • Seller: The Buccini/Pollin Group
  • Buyer: Unknown
  • Deal Closing Date: May 28

The deal was orchestrated by a team from Berkadia Hotels & Hospitality, specifically Dan Hawkins, John Kluh, and John Testerman, who represented the seller, The Buccini/Pollin Group. The identity of the buyer remains undisclosed.

Players

Dan Hawkins
3 deals$61.3M volume
BROKER

John Kluh
Berkadia
2 deals$53.6M volume(301) 202-3563
BROKER

John Testerman
Berkadia
1 deal$30M volume(919) 436-2793
BROKER

Details

SOLD
IMAGE: 44620 Waxpool Rd, Ashburn, VA, 20147 MARKET: Ashburn SELLER'S REP: Dan Hawkins-Berkadia, John Kluh-Berkadia, John Testerman-Berkadia BUYER: Unknown SELLER: PRICE: $30,000,000.00 SF: 0

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,600,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66