JER Partners Acquires Fairview Park Marriott
Falls Church, Virginia for $108.5mil
MARCH 14, 2007. JER Partners, the private equity investment arm of the J.E. Robert Companies, has acquired the Fairview Park Marriott Hotel in Falls Church, VA for $108.5 million.
The Fairview Park Marriott Hotel is a 394-room, full-service hotel located near Washington, D.C. off Interstate 495 (the Capital Beltway). The hotel is located within the 2.1 million square foot Fairview Office Park. It is the only hotel permitted within Fairview Office Park.
The hotel recently benefited from a complete renovation of its guestrooms and corridors. JER intends to undertake further renovations to the hotel's public areas including the lobby, restaurant, lounge, fitness center, gift shop and meeting space.
"JER views Washington, D.C. as one of the premier lodging markets in the world, with a favorable business climate, strong tourism appeal, and abundant government and military demand," said Cia Buckley, President of U.S. Fund Business at JER. "As a result of limited competing supply near the hotel, we believe that the Fairview Park Marriott Hotel is ideally suited to benefit from these strong demand generators."
The hotel is managed by Marriott International, Inc. under a long-term agreement.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
