TYSONS CORNER, VA-B.F. Saul Real Estate Investment Trust has secured a $34 million loan for its Courtyard by Marriott here. The permanent financing is being provided by a life company. Cassidy Turley's Christian Miles, Phil Mudd and Bradley Geiger arranged the deal for the property, a 169,442 square foot hotel located at 1960-A Chain Bridge Road.
Among other factors, lenders like the fact that the hotel would be adjacent to the new Silver Line Metro station and is atop "The Hill" in Tysons, according to Mudd.
In general, the hotel industry is expected to see 6.5% compound annual growth in room revenue through 2016, resulting in a CAGR of 6.1% percent in total hotel revenue during the same period, according to PKF Hospitality Research LLC.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
