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Value Enhancement Fund IV, L.P. Purchases the 636 Room Doubletree National Airport in Arlington, Virginia
New York, NY�February 1, 2001 -- Sonnenblick-Goldman Company, acting as exclusive advisor to Arlington Hotel Co., has arranged the sale of the
Doubletree National Airport in Arlington, Virginia. Value Enhancement Fund
IV, L.P., a Georgia limited partnership, purchased the 636-key hotel.

�The strength and diversity of the Washington, D.C. economy, coupled with the expanded National Airport, the addition of the new Convention Center and many area leisure attractions, bodes well for the future growth of lodging demand for the Capitol and the Crystal City/Pentagon City sub-market. As the local economy continues to expand, the Doubletree�s location will enable it to capture additional corporate, group and leisure business,� said Mark Gordon, Managing Director and Head of Sonnenblick-Goldman�s International Lodging & Leisure Group. 

Mr. Gordon added, �The Doubletree Hotel is also well positioned to increase
its rate growth due to the benefits of the brand becoming incorporated in
the Hilton reservations system as well as the variety of property level
value enhancement opportunities.� 

Located just minutes from Ronald Reagan National Airport, the hotel features
a 110-seat roof top restaurant; a rotating roof top bar and lounge; a casual, 160-seat restaurant; a lobby bar; and 24,000 square feet of meeting space that includes the 5,576 square foot Plaza Ballroom. Additional hotel amenities include a health club, indoor pool, whirlpool, sauna, sundeck, and gift shop.

Sonnenblick-Goldman Company is the industry�s leading independent real
estate investment banking firm.  Founded in 1893 to serve the financing
needs of the real estate industry, Sonnenblick-Goldman Company provides a
full range of real estate financial services including debt and equity
placements, joint ventures, investment sales and real estate advisory
services.

 
 

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Contact:

Jeannette Boccini
Director of Corporate Communications
Sonnenblick-Goldman Company
712 Fifth Avenue
New York, NY  10019
212-841-9245
www.sonngold.com

Also See Fairmont Hotels Parent Company, Canadian Pacific Hotels, Acquires Control of the Kea Lani Resort in Wailea, Maui / Feb 2001


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