Excel Group acquires Courtyard by Marriott Springfield

Excel Group has acquired Springfield, Virginia-based hotel Courtyard by Marriott Springfield. No financial terms were disclosed.

PRESS RELEASE

ARLINGTON, Va., June 17, 2019 /PRNewswire/ — Arlington, VA-based real estate investment firm Excel Group has announced its recent acquisition of the 191-key Courtyard by Marriott Springfield located in the Springfield, VA.

“We are excited to acquire this newly renovated hotel in Springfield, VA – a burgeoning market just 13 miles from downtown Washington DC,” remarked managing partner Shoham Amin. “This transaction represented a unique opportunity to acquire a premium-branded select-service hotel in a high-growth DC metro submarket, in close proximity to Fort Belvoir and the new 625,000 SF TSA Headquarters slated to open in 2020.”

This purchase represents the seventh major transaction for Excel Group over the past twelve months, representing a total transaction volume of over $170 million.

For more information, please contact Excel Group Investor Relations at ir@excelgp.com.

ABOUT EXCEL: Excel Group is a Washington, D.C.-based private equity firm that owns, develops, and asset manages hotels in high-growth markets across the Eastern U.S. Excel Group is focused on disciplined, cycle-appropriate hotel real estate acquisitions and asset management.