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Excel Group Acquires 191-Room Courtyard by Marriott Springfield in Virginia
Arlington-based real estate investment firm Excel Group acquired the 191-room Courtyard by Marriott Springfield in Springfield, VA. The sales price was $20.2 million, according to public records. The seller was not disclosed.
Located 13 miles from downtown Washington DC, the property is nearby the 625,000-square-foot TSA headquarters, which is expected to be completed in 2020. Amenities at the hotel include a business center, restaurant, and boarding pass printing station. The acquisition represents the seventh major transaction for the Excel Group over the past 12 months, with a total transaction volume of more than $170 million.
“We are excited to acquire this newly-renovated hotel in Springfield,” said Shoham Amin, managing partner at Excel Group. “This transaction represented a unique opportunity to acquire a premium-branded select-service hotel in a high-growth DC metro submarket, in close proximity to Fort Belvoir and the new 625,000-square-foot TSA Headquarters.”
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- ◦Sale/Acquisition
