>Thayer Buys 395-Key Hotel from JER

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>FALLS CHURCH, Va. – JER Partners and Thayer Hotel Investors V LP have closed on the sale of the 395-room Fairview Park Marriott, the only hotel in the Northern Virginia suburban office park.

JER bought the hotel in February 2007, pumping $3.9 million or $10,000 per key into a renovation of the lounge, restaurant, lobby, 15,000 square feet of meeting space and fitness center. In May 2009, JER completed a discounted payoff on a significant portion of the htoel’s debt and extended the maturity for the remainder of the term.

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