HFF arrenges the loan for Hyatt Regency Fairfax
H.I.G Realty Partners has provided a $26.2 million refinancing for the 316 key Hyatt Regency in Fairfax, Virginia. HFF has arrenged the three year, floating rate loan that includes two one year extensiond, on behalf of the borrower, a partnership between The Carlyle group and Songy Highroads.
HFF Senior Director Chris Hew and Director Drake Greer worked on behalf of the borrower.
The 14 storey building was opened in 1988 under the Hyatt flag. the hotel feaures 12,000 square feet of meeting space, pool, a business center and three food and beverage venues. It underwent several renovations, with the most recent being at the beginning of 2015, when the current owners purchased the asset.
The hotel is located at 12777 Fair Lakes Circle. It is part of the 650 acre Fair Lakes mixed use master planned community. It includes 2 million square feet of retail space, more than 2,000 residential units and 1.3 million square feet of office space. It offers easy access to Interstate 66, Fairfax County Parkway. Also, it is 23 miles from downtown Washington, D.C.
Source: CP Executive
Fulya Altunyay/[email protected]