Marcus & Millichap Capital Corporation Arranges $14M Financing for Virginia Hospitality Property

CENTREVILLE, VA – Marcus & Millichap Capital Corporation (MMCC) arranged $14 million in financing for SpringHill Suites by Marriott Centreville Chantilly, a 136-key hospitality property located at 5920 Trinity Parkway in Centreville, Virginia.

Robert Bhat, senior managing director in MMCC’s Miami office, secured 5-year financing with a national bank on behalf of a local hospitality management firm. Additional loan terms include full-term interest only payments at a 6.8% rate and a 65% loan-to-value.  The borrower was able to repatriate capital at closing.

The property is located near Dulles International Airport as well as Dulles Expo Center, George Mason University and Fair Oaks Mall. 

“Securing this financing reflects the strength of the hospitality sector in Northern Virginia,” said Bhat. “The property’s proximity to major demand drivers positions it for continued success.”