McLEAN, VA–Noble Investment Group announced it has acquired the Staybridge Suites Tysons-McLean, a newly renovated, extended-stay hotel located in downtown McLean for an undisclosed price.
The 142 all-suite “presented us the opportunity to acquire a first-class physical asset in a high barrier to entry market with deep and diversified demand generators,” said said Noble Vice President Dustin Fisher in a prepared statement. “The property benefits from its close proximity to the corporate demand of Tysons Corner, easy access to the Washington, DC central business district and a highly affluent surrounding residential community of McLean,” he said.
Noble understands the market very well and in particular they like Northern Virginia's fundamentals, Marc A. Magazine, executive managing director of Savills Studley Hospitality Group tells GlobeSt.com.
Last November Noble acquired the 234-key Embassy Suites in Tysons, Va., for $38.8 million.
This July it also acquired two hotels — an Aloft and an Element — in Severn, Md., for a total of $29.7 million, from LTD Management.
Noble is part of a handful of hotel deals that are closing or have closed in the area. The Madison and the Hamilton in Washington, DC have also found buyers, as we reported yesterday.
McLEAN, VA–Noble Investment Group announced it has acquired the Staybridge Suites Tysons-McLean, a newly renovated, extended-stay hotel located in downtown McLean for an undisclosed price.
The 142 all-suite “presented us the opportunity to acquire a first-class physical asset in a high barrier to entry market with deep and diversified demand generators,” said said Noble Vice President Dustin Fisher in a prepared statement. “The property benefits from its close proximity to the corporate demand of Tysons Corner, easy access to the Washington, DC central business district and a highly affluent surrounding residential community of McLean,” he said.
Noble understands the market very well and in particular they like Northern
Last November Noble acquired the 234-key Embassy Suites in Tysons, Va., for $38.8 million.
This July it also acquired two hotels — an Aloft and an Element — in Severn, Md., for a total of $29.7 million, from LTD Management.
Noble is part of a handful of hotel deals that are closing or have closed in the area. The Madison and the Hamilton in Washington, DC have also found buyers, as we reported yesterday.
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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.
