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HERNDON, VA-Thayer Lodging Group just closed on its first Northern Virginia asset– the 316-all suite Hyatt Hotel Washington Dulles. Dallas-based Ashford Hospitality Trust was the seller. The price was undisclosed, but according to a source, the Annapolis, MD-based firm acquired it for $78 million. Rob Koger, president of Molinaro Koger, brokered the transaction with Mark Morris, senior vice president and Dustin Resnick, vice president. A four-diamond hotel, the property will keep the Hyatt flag, and be managed by the Global Hyatt Corp.

Demand for the four-diamond hotel was high, as it is a premier product minutes away from Dulles airport, Resnick tells GlobeSt.com. Ashford has been investing in renovations to the hotel over the last four years, he adds, with the most recent project a $2 million rehab of the lobby. Other amenities include an indoor pool, business center and 10 meeting rooms totaling 7,250 sf.

The most recent comp to this trade was last December’s $65 million sale of the Marriott Hotel BWI Airport–a 309-key full-service facility–to a European-based joint venture between Bank of Scotland and Capital Hotel Group, as previously reported by GlobeSt.com. Ashford also sold this asset and MK brokered it. These sales have been strategic sell-offs by Ashford, as it redeploys capital to focus on its mezzanine lending strategy, Resnick explains. Ashford acquired the Hyatt Dulles from Colony Capital LLC affiliate Dulles Airport Hotel LLC for approximately $73 million in November 2005.

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