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Archive for the ‘Arlington (Virginia)’ Category

HEI Fund Acquires Arlington VA Sheraton

Saturday, May 28th, 2011
Sheraton Pentagon City Hotel

HEI Hotels & Resorts (HEI) today announced that the company has purchased the fee simple interest in the 417-room Sheraton Pentagon City Hotel, Virginia.  HEI acquired the ownership interest for an undisclosed amount from National Hospitality Corporation headquartered in Washington DC.

HEI has taken over management of the hotel as part of the transaction and will continue to operate the hotel as a Sheraton. The property is the 39th hotel in the company’s portfolio and HEI’s seventh hotel under Starwood’s Sheraton brand. 

“This is the second acquisition of our $515-million HEI Hospitality Fund III, L.P. in the past 30 days and our third acquisition this year” said Steve Mendell, president acquisitions and development. “The hotel acquisition market has clearly thawed in the past six months and HEI is well positioned to be a major player in the current transaction climate.”

Located at 900 South Orme Street in Arlington, Virginia, the HOTEL NAME … Read the rest

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