D.C.-area Marriott sold for $107 million

DALLAS, May 19 (UPI) -- Ashford Hospitality Trust Inc. is paying $107 million for the 697-room Marriott Crystal Gateway in Arlington, Va.

The hotel has 697 rooms, 33,355 square feet of meeting space and two food and beverage facilities. The hotel is near Reagan National Airport and has a direct link to the local commuter rail system.

AHT, of Dallas, expects to invest $13 million during the first year of ownership on capital improvements.

AHT is buying the property from a partnership headed by Robert H. Smith and Arthur A. Birney. Marriott Crystal Gateway is managed by Marriott International under a long-term management agreement.