Reston Row
Update
08/08/22
Upcoming Hotel at Reston Row Seeks Investors
Hogan Cos. is raising equity for the upcoming hotel at Reston Row. The 267-room hotel will include two Marriott International branded hotels, an extended-stay Residence Inn, and a more boutique AC Hotel.
The real estate advisory and brokerage firm at Hogan released a solicitation email seeking $27M in funds, to be part of the larger capital stack needed to develop the $101 million project.
The solicitation states that the project anticipates generating a development yield of 8.7% return, with a hold period of four years. The minimum commitment is $50,000. Would-be investors have until Aug. 19 to invest.
The project is being built by Bethesda-based Donohoe Cos. Inc., which expects to close on its loan in time to start construction in October.
