Today, the 24-story hotel and the nine-acre parcel it graces have a total assessed value of $51.7 million. A spokesperson tells GlobeSt.com that the purpose of the refinancing package was strictly to allow the borrower to take advantage of currently favorable interest rates.

Sporting the address of 8661 Leesburg Pike, Sheraton Premiere Tysons Corner was developed in 1986 and is located off the Dulles Toll Road in the bustling Tysons Corner submarket, an area just 20 minutes away from Downtown Washington, DC and about 15 minutes from the Washington-Dulles International Airport. Other nearby destinations include the Wolf Trap National Park for the Performing Arts and the upscale 820,000-sf Tysons Galleria shopping center.

The hotel itself features all upscale hospitality amenities, such as a fitness center, indoor and outdoor swimming pools, racquetball courts and a business center. Additionally, Sheraton Premiere offers 40,000 sf of meeting space. An extensive $5.3-million renovation of the property, begun by the previous owner and shepherded through by Tysons Corner Hotel Co., reached completion in 2000.