Driftwood Capital Acquires 316-Room Hyatt Regency Fairfax Hotel

Commercial real estate investment, development and lending platform Driftwood Capital has acquired the Hyatt Regency Fairfax, a 316-room hotel located in the Washington D.C. submarket of Fairfax, VA. The sales price was not disclosed.

Located at 12777 Fair Lakes Circle, the Hyatt Regency Fairfax is 13-story, high-rise hotel built in 1989. The property offers modern oversized-guest rooms, a state-of-the-art fitness center, an indoor pool with whirlpool, a full-service restaurant and more than 9,000 square feet of flexible meeting space capable of hosting up to 600 guests and 2,420 square feet of pre-function space. The property will be managed by Driftwood Capital’s sister company, Driftwood Hospitality Management, and will be rebranded as a Hilton hotel.

“Having completed an extensive $14 million renovation in 2016, this hotel presented Driftwood Capital and its investors a unique value-add opportunity to realize significant gains in top-line performance once a new management team is in place that capitalizes on the hotel’s superior location and physical condition,” said Carlos Rodriguez Sr., CEO at Driftwood Capital.