Location: Atlanta, GA
Loan Amount: $40,700,000
Term/Amortization: 2-Years Interest Only
Loan to Cost: 78%
Purpose: A ground-up construction loan for a 194-room, dual-branded Marriott Fairfield Inn & Suites and Towneplace Suites in midtown Atlanta.
The hotel will be seven stories high on top of a 220-space, five-story parking deck. The non-recourse loan was leveraged to 78 percent of the total project cost with a two-year term and three six-month extension options.