{"id":1004210328,"date":"2018-03-15T03:15:32","date_gmt":"2018-03-15T11:15:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004210328"},"modified":"2022-12-09T02:18:32","modified_gmt":"2022-12-09T10:18:32","slug":"dovehill-capital-wurzak-acquire-nova-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dovehill-capital-wurzak-acquire-nova-hotel\/","title":{"rendered":"DoveHill Capital, Wurzak Acquire NoVa Hotel"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"Sheraton<\/a>

Sheraton Reston Hotel in Reston, Va<\/p><\/div>\n

DoveHill Capital Management and the Wurzak Hotel Group have acquired the Sheraton Reston Hotel, a 298-key, full-service hotel in Reston, Va.<\/p>\n

Cyrus Vazifdar, senior director of HFF<\/a>, represented the seller in the transaction, who was not named. The price was also not disclosed.<\/p>\n

\u201cWe are always looking for opportunities where we can reposition and invest capital to deliver notable returns for our investors,\u201d <\/em>Howard Wurzak, Wurzak Hotel Group\u2019s chairman & CEO, told Commercial Property Executive. \u201cOur company philosophy is expanding into markets with potential upside, with a strong focus on food, beverage and meeting space sectors. We believe Reston possesses such capacities and the opportunity for intense growth.\u201d<\/em><\/p>\n

The six-story hotel was originally constructed in 1973 and renovated in 2014 with upgrades to its guestrooms, lobby, restaurant lounge and the addition of 22,000 square feet of meeting space.<\/p>\n

Notable features at the property include the Syrah Restaurant and Cosmopolitan Lounge, a state-of-the-art fitness center, an outdoor pool with sun deck, a business center and views of the adjacent Reston National Golf Course.\u00a0<\/p>\n

Reston on the Rise<\/strong><\/h2>\n

Located at 11810 Sunrise Valley Drive, in what\u2019s grown into the second-largest office market in Fairfax County, the Sheraton Reston is situated in the heart of the Reston Master Plan, which consists of 22,000 new residential units, more than 8 million square feet of new office space and 700,000 square feet of retail.\u00a0<\/p>\n

The Sheraton Hotel is just minutes from a variety of Fortune 500 companies, the Federal Government Department Headquarters, Reston Town Center, and is just a short metro ride away from the nation\u2019s capital.<\/p>\n

\u201cReston\u2019s geographic location heavily influenced our decision to purchase the Sheraton,\u201d <\/em>Wurzak said. \u201cReston is an upscale suburb of the Washington D.C. area, with increasing corporate and residential markets, which we look forward to serving.\u201d<\/em><\/p>\n

The hotel can be easily seen from one of the most heavily trafficked thoroughfares in Northern Virginia, directly off the Dulles Roll Road, and is less than a mile from the Wiehle-Reston East Metrorail Station (Silver Line), which connects the hotel to the entire D.C. MSA.<\/p>\n

According to Wurzak, the company plans to make major renovations to elevate the hotel\u2019s position as a leading hotel in the Reston market.\u00a0<\/p>\n

\u201cScheduled renovations include a complete makeover to all guestroom bathrooms, corridors, lobby area, ballrooms and meeting spaces,\u201d <\/em>he said. \u201cThe exterior of the building will also be re-designed.\u201d<\/em><\/p>\n

Wurzak Hotel Group will manage Sheraton Reston. The company is also building two hotels, The Dalmar and Element Hotel in Fort Lauderdale<\/a>, Fla., which will deliver a total of 323 guestrooms to the Flagler Village district, when completed this August.<\/p>\n

Image courtesy of Wurzak Hotel Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The 298-key Sheraton Reston is situated in the Washington, D.C., suburb of Reston, the second-largest office market in Fairfax County.<\/p>\n","protected":false},"author":451,"featured_media":1004210335,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21751,21783,11,21742,1615],"tags":[32792,34448,39311],"class_list":["post-1004210328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-hotel","category-investment","category-midatlantic","category-latest","category-washington-dc","tag-hff","tag-sheraton","tag-wurzak-hotel-group"],"acf":[],"yoast_head":"\nDoveHill Capital, Wurzak Acquire NoVa Hotel - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/dovehill-capital-wurzak-acquire-nova-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DoveHill Capital, Wurzak Acquire NoVa Hotel\" \/>\n<meta property=\"og:description\" content=\"The 298-key Sheraton Reston is situated in the Washington, D.C., suburb of Reston, the second-largest office market in Fairfax County.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dovehill-capital-wurzak-acquire-nova-hotel\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-15T11:15:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:18:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Sheraton-Reston-Hotel-in-Reston-Va.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dovehill-capital-wurzak-acquire-nova-hotel\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dovehill-capital-wurzak-acquire-nova-hotel\/\",\"name\":\"DoveHill Capital, Wurzak Acquire NoVa Hotel - 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