Arriba Capital (Arriba) successfully closed a $7,000,000 loan for the Hampton Inn Ringgold. The property is 78-rooms and was built in 2008 and benefits from good visibility along Interstate 75, where over 50,000 vehicles pass by the property on a daily basis. Nearby demand generators such as Fort Olgelthorpe and carpet mills has made the Hampton Inn an attractive asset from the time it was built. This is the 6th transaction Arriba has done with the borrower.
The borrower is an experienced, privately held, Atlanta-based hospitality development and management company. The borrower has developed more than 20 hotels throughout the continental U.S.