Close

Cart

Total $0.00

Checkout

January 16, 2018, New York, NY — Blue Vista Capital Management and The LCP Group, L.P. jointly announced today the acquisition of the Fairfax Marriott at Fair Oaks in Fairfax, Virginia.

The six-story 316 guest room and suite property is located outside of Washington, D.C. The hotel contains 15,000 square feet of meeting space, the award-winning 703 Bar + Kitchen, and the amenities, facilities, and services of a full-service Marriott hotel.

“In partnership with LCP, we were able to identify a unique value-add opportunity,” said Jason Schwartz, Principal at Blue Vista.  “Installing LCP’s affiliate manager, Crescent Hotels & Resorts, LLC as the hotel’s manager further enhances our partnership’s ability to execute a turnaround of the hotel’s operations given Crescent’s extensive presence in the D.C. market.”

“The Fairfax Marriott is well-located and benefits from a diversity of demand generators serving the greater DC market,” added Francis Lively, Chief Operating Officer of LCP.  “We capitalized on an opportunity to enhance the asset’s value through a strategic repositioning of the hotel’s sales and marketing program, which had been underperforming its potential.”   

The property is a quick drive from Washington Dulles International airport, and is conveniently located to George Mason University as well as  several corporate and association headquarters, including The National Rifle Association, SpaceQuest Ltd. and Edge Technologies There is also access to shopping, dining, and retail in the immediate area at the Fair Oaks Mall.

The property will be managed by Crescent Hotels & Resorts, LLC, based in Fairfax, VA.

About Blue Vista Capital Management

Founded in 2002, Blue Vista Capital Management, LLC is a leading real estate investment management firm focused on helping investors maximize returns in real estate through best-in-class investment strategies focused exclusively on middle market equity and debt, and student housing in the U.S. and select international markets. To date, Blue Vista has participated in direct investments and joint ventures representing approximately $7.5 billion in total capitalization and the firm has raised in excess of $2.0 billion in equity through various closed end funds and separate account relationships.

About The LCP Group, L.P.

The LCP Group, L.P. is a private real estate investment manager with real estate holdings and assets under management in excess of $500 million throughout the United States. LCP specializes in hospitality and has been actively acquiring strategic hotel assets on behalf of institutional and private equity investors since 1973.  

Contact: Stacy Silver

ssilver@silverhospitalitygroup.com / 954.306.0747

Related News

Crescent Hotels & Resorts Adds Miramonte Indian Wells Resort & Spa, Joins Crescent's Latitudes Collection

The LCP Group and Blue Vista Capital Management Acquire 347-Room Hilton Kansas City Airport

Crescent Hotels & Resorts Adds PGA National Resort and Spa, Joins Crescent’s Latitudes Collection

Aliz Hotel Times Square Appoints Maureen Murphy as New Director of Sales & Marketing

Crescent Hotels & Resorts Latitudes Collection Adds the 231-Room Embassy Row Hotel, DC

Crescent Hotels & Resorts Adds The Broadview Hotel Toronto Joins Crescent's, Latitudes Collection

Crescent Hotels & Resorts Adds DoubleTree Suites Philadelphia West to Management Portfolio

Sheraton Suites Philadelphia Airport Welcomes Jackie King as Director of Sales & Marketing

Crescent Hotels & Resorts and Aliz Group Appoints Management Team for Aliz Hotel Times Square

Crescent Hotels & Resorts Appoints Amanda Hawkins-Vogel as SVP of Operations and Michael Carr-Turnbough as SVP of Food & Beverage

Crescent Hotels & Resorts Selected to Manage Hilton Greenville Hotel in South Carolina

Crescent Hotels & Resorts Appoints Harold Bassler as General Manager for DoubleTree by Hilton Orlando at SeaWorld

Crescent Hotels & Resorts Adds Sheraton Gunter Hotel San Antonio to Management Portfolio

Crescent Hotels & Resorts to Manage Embassy Suites by Hilton Philadelphia Valley Forge

Crescent Hotels and Resorts Appoints Theresia Kelly as Spa Director of Sheraton Bay Point Resort

Aliz Group and Crescent Hotels & Resorts Plan Fall Debut of Flagship Aliz Hotel Times Square in New York City

Crescent Hotel and Resorts Appoints Jason Gold as SVP Business Development

Crescent Hotels & Resorts Adds 1004-Room DoubleTree Orlando Resort at SeaWorld to Management Portfolio

Crescent Hotels & Resorts Appoints Robert Butler as Executive Vice President of Operations

Crescent Hotels & Resorts Opens 385-Room Crowne Plaza Baltimore Following Multi-Million Dollar Renovation

All News »

Please login or register to post a comment.