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HREC arranges $22.3M sale of Embassy Suites Dulles Airport hotel

The buyer, via Ashford Hospitality Trust's subsidiary, paid about $22.3 million in cash, with roughly $20.6 million used to repay a mortgage tied to 13 hotels.

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HREC Investment Advisors arranged the sale of the 150-suite Embassy Suites Dulles Airport in Herndon, Virginia, according to ConnectCRE.

Ashford Hospitality Trust, Inc. completed the transaction through its indirect subsidiary, Ashford Dulles LP. The property sold for approximately $22.3 million in cash consideration, net of selling expenses.

ConnectCRE said Ashford Hospitality Trust paid about $20.6 million to the mortgage lender on a loan secured by 13 hotels, including the Embassy Suites. HREC exclusively represented the seller in the deal.

ConnectCRE added that the hotel benefits from connectivity to major corporate demand generators in the Dulles submarket, and that marketing and negotiations were led by Scott Stephens, Mark Morris, and Dana Weinberg.

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