Holliday Fenoglio Fowler, L.P. (HFF) announces the $40 million acquisition financing for Hyatt Regency Dulles, a 316-room, full-service hotel adjacent to Washington Dulles International Airport in the Washington, D.C.-area suburb of Herndon, Virginia.
The HFF team worked on behalf of the borrower, Wheelock Street Capital, to place the five-year, floating-rate loan with a financial services company.
The 13-story Hyatt Regency Dulles features the LEED Silver- and IACC-certified Executive Meeting Center constructed in 2014 that consists of 29,000 square feet of meeting and event space, including a ballroom and outdoor gazebo reception area; three food and beverage outlets, including Elements full-service restaurant, Express O’s coffee shop and the lobby bar in the atrium lobby; newly renovated fitness center; and indoor lap pool; full-size hot tub; and walking and jogging paths. Situated on 6.38 acres at 2300 Dulles Corner Boulevard, the hotel is adjacent to the Washington Dulles International Airport, which welcomed almost 23 million annual passengers in 2017, and 1,000 feet from the new Innovation Center Metro station, which provides direct access to the airport and downtown Washington, D.C. Additionally, the property has access to and visibility from VA-28 and 267 (Dulles Toll Road).
The HFF debt placement team representing the borrower included managing director Steven Klein and senior director Chris Hew.
About Wheelock Street Capital
Wheelock Street Capital was formed in 2008 by Rick Kleeman and Jonathan Paul, two veteran real estate private equity investors, each with over 25 years of broad real estate transaction experience across all major asset classes. Wheelock has since raised over $2 billion in capital commitments and is currently investing its fifth fund comprising $725 million of commitments from leading pension funds, endowments and foundations. Wheelock will invest in a broad range of real estate assets throughout the United States. The fund may invest directly or with high quality joint venture partners through a variety of capital structures and transaction types, including acquisitions, restructurings, and recapitalizations. For more information, visit www.wheelockst.com.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
