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BACK TO CLOSINGS:

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.