The Key Bridge Marriott and the 5.5 acres of prime Rosslyn real estate around it are being purchased by a pair of Los Angeles investment firms for $190 million, the Washington Business Journal reported today (Friday).
The firms plan to invest in rehabbing the hotel, WBJ reports, and a portion of the partially-wooded site between Lee Highway and the GW Parkway is expected to be redeveloped as new residential properties and possibly some retail. The buyers were among a number of companies with redevelopment visions bidding to acquire the site, ARLnow.com hears.
The hotel first opened in 1959 as the Key Bridge Motor Inn, one of Marriott’s earliest hotels (the first was the Twin Bridges Motor Hotel, in Arlington near the 14th Street Bridge).
Photo via Google Maps
