According to Montgomery County records, the property has acurrent assessed value of approximately $33.5 million. The propertywill be submitted to a renovation, but it will continue to carrythe Marriott flag under the new ownership.
"Bethesda Suites Marriott represents a very high quality assetin an excellent market with strong cash flow," says DiamondRockchairman and CEO Bill McCarten. DiamondRock, which got its start inJuly with a $210 million stock offering, has a strategicrelationship with Marriott International Inc., which owns $30million in company shares.
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