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Berkadia Arranges Sale, Financing of Virginia Courtyard by Marriott

Virginia-based Palmer Gosnell Hospitality, LLC, and the affiliated asset ownership entity Inns of Historic Fredericksburg, divested the Courtyard by Marriott Fredericksburg, VA. Berkadia Hotels & Hospitality group’s Kyle Stevenson and Matthew Bailly arranged the $18.8 million sale. Berkadia’s Adrienne Kautzman arranged $12 million financing on behalf of Utah-based buyer, Venture Hospitality Holdings, LLC.

“With a strong tourism industry and its proximity to the Northern Virginia suburbs, Fredericksburg is an attractive destination for a diverse cross-section of travelers,” said Kautzman. “Venture recognized the opportunity this property presented, and we expect it will continue to drive value well into the future.”

The newly-renovated hotel property is located at 620 Caroline St., in the heart of Fredericksburg’s Historic district near the Fredericksburg and Spotsylvania National Military Park, University of Mary Washington, Fredericksburg Center for the Creative Arts and Children’s Museum of Richmond.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition