| McLean, VA � December 17, 2004 � Molinaro Koger announced today that
the firm closed the sale of the Marriott Suites Hotel, Bethesda, Maryland,
on behalf of Bethesda Hotel Associates LP. DiamondRock Hospitality Company
purchased the 274-all-suite property.
�Greater Washington DC metro continues to draw significant investor interest and to drive competitive bidding for hotel assets,� said Rob Koger, President of Molinaro Koger who handled the transaction. �We are pleased to have assisted our client in this successful disposition.� The Mobil Guide 4-star hotel is ideally located near downtown Bethesda, the I-270 Technology Corridor, and world-class shopping and dining. Each suite features a separate living area, king-size sleeping room and marble bath. The handsomely appointed accommodations, amenities, and hallmark Marriott service make the hotel popular with both business and leisure travelers. The hotel�s facilities include a restaurant, lounge, indoor and outdoor pools, and 4,500 square feet of meeting space. Molinaro Koger continues to prove their effectiveness in marketing unique lodging asset opportunities in desirable markets across the country having recently represented clients in the sale of the Hyatt Hotel Orange County, California, the Renaissance Hotel Ft. Lauderdale, Florida, and the Crystal City Marriott Hotel located near Washington Regan Airport. About Molinaro Koger
Molinaro Koger is an international hotel real estate advisory firm. The company structures boutique through luxury hotel transactions throughout the Americas and Europe. MK is headquartered in metro-Washington, DC, and has offices in London, Atlanta, Chicago, Cincinnati, Dallas, Los Angeles and Phoenix. Over the past decade the firm has captured the industry�s leading hotel transaction awards including Highest Volume, Largest Transaction and Salesman of the Year. Joseph Molinaro founded the firm in 1959, and since then Molinaro Koger has successfully marketed hotel real estate, sponsored limited partnerships, and arranged financing for purchasers. Given the cyclical nature of real estate, the firm has weathered an array of highs and lows during the course of its 44-year history. Throughout that time, the company has grown and assisted clients in achieving their investment goals. �With each lodging real estate cycle we gather strength, expertise and contacts enabling us to better serve our clients best interests regardless of economic highs or lows,� says President Robert Koger. �The results we achieve are directly attributable to the commitment and expertise of our professional staff.� Molinaro Koger can be accessed online at www.mkhotels.com. |
