Marriott AC & Residence Inn Reston Town Center
The development of a dual-branded Marriott AC and an extended-stay Residence Inn, two of Marriott’s top performing brands, as a central component of a 4M SF mixed-use development in the dynamic Reston, VA submarket of Washington, D.C.
Location
Reston, VA
Investment Strategy
Development
Property Type
Hotel / Hospitality
Open To
Accredited Investors
Closed Date
Nov 2022
Status
Closed Investment Strategies
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Sponsor Details
Sponsor Designation
CrowdStreet categorizes sponsors based on their experience and track record so our investors can get a sense of the firm behind the deal.
Enterprise
FIRM AGE15+ YEARS
LEADERSHIP EXPERIENCE30+ YEARS
PORTFOLIO VALUE$5 B +
National Platform
Ranked in the top 250 for estimated value of total holdings per Real Capital Analytics
Tenured
FIRM AGE10+ YEARS
LEADERSHIP EXPERIENCE20+ YEARS
PORTFOLIO VALUE$500 MM +
Leadership has invested together over multiple cycles
Dedicated investor relations and accounting staff
Seasoned
FIRM AGE5+ YEARS
LEADERSHIP EXPERIENCE10+ YEARS
PORTFOLIO VALUE$100 MM +
Network of repeat investors
Established banking relationships
Affiliations with national industry associations ULI, NAOIP, CCIM, SIOR or IREM
Emerging
FIRM AGE< 5 YEARS
LEADERSHIP EXPERIENCE2-5 YEARS
PORTFOLIO VALUE< $100 MM +
Strong leadership experience
Experience in the proposed asset class and geographic market
Experience in managing individual investors
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LP Equity
$17,520,778
17.0%
Sponsor Equity
$5,000,000
4.9%
Sponsor Affiliate Equity
$5,000,000
4.9%
Senior Debt
$75,250,000
73.2%
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Total
$102,770,778
100%
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