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ARLINGTON, VA-The Crystal City Marriott at Reagan National Airport has gotten a new owner in a recent deal valued at $21.5 million. Vornado Realty Trust acquired the 343-room hotel from a limited partnership that is 67% owned by two Vornado trustees– Robert H. Smith and Robert P. Kogod–and family members. Acquisition of the hotel comes five years after Vornado purchased the 1.7-acre parcel on which the hotel sits for $8 million. An affiliate of Marriott International Inc. leases the property under a contract that is not scheduled to expire until July 31, 2015; the contract allows for the option of a 10-year extension.

Just a stone’s throw from the airport, Washington, DC and the popular Northern Virginia submarket of Old Town Alexandria, Crystal City Marriott carries the address of 1999 Jefferson Davis Hwy. and sits smack in the middle of the Arlington submarket of Crystal City. The hotel is in a veritable throng of about 25 Vornado-owned properties, including the Crystal Mall I through IV buildings, which are adjacent to the hotel and account for nearly 1.2 million sf.

The hotel itself, an 11-story structure, features 15,000 sf of meeting space, as well as a fitness facility, swimming pool, business center and a cocktail lounge. An added amenity for hotel guests is the adjoining Crystal City Shops shopping center. In addition to its slew of office and retail property holdings, Vornado owns another hotel, the 1,700-room Hotel Pennsylvania just across from Madison Square Garden in New York.

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