Hyatt Place Fredericksburg Exchanges Ownership for $10M
Berkadia has completed the sale of the Hyatt Place Fredericksburg-Mary Washington, a 93-room hotel in Fredericksburg, VA.
Managing Directors Kyle Stevenson and Dan Hawkins of Berkadia Hotels & Hospitality completed the sale on behalf of the seller, Fredericksburg-based Eagle Hospitality. The buyer is Hitesh Patel of Williamsburg, VA-based HMP Hotels.
“This transaction was quite unique as the asset sold to a buyer who stepped forward and agreed to the selling price preemptively,” said Stevenson.
The Jefferson Davis Highway located hotel includes amenities such as an on-site restaurant, fitness center and meeting facilities, plus it is pet friendly. The hotel is situated near Mary Washington Hospital and University of Mary Washington.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.