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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.
- ◦Sale/Acquisition
