Natixis Originates $43 Million Loan for Crowne Plaza and Staybridge Suites Atlanta Midtown Hotel
Natixis provided $43 million of floating-rate financing to AWH Partners for the Crowne Plaza Midtown and Staybridge Suites Atlanta Midtown, a 462-room dual brand hotel located in Atlanta, Georgia.
The funds were used to refinance an existing renovation loan after the property’s recent multimillion dollar renovation. The extensive makeover garnered AWH Partners the IHG Developer of the Year Award. The property represents the top full-service and extendedstay options for IHG Rewards Club members in Midtown and Downtown Atlanta.
The hotels are conveniently located in Midtown, the most dynamic and urban submarket in Atlanta, with immediate access to the Downtown Connector (I-75 / I-85), Peachtree Street, and North Avenue, as well as the MARTA North Avenue Station, which provides direct transportation to Hartsfield Jackson International Airport, Downtown Atlanta, Buckhead, and the northern suburbs.
The hotels are proximate to numerous points of interest that include: Robert W. Woodruff Art Center, the Fox Theatre, Georgia Tech, Emory University Midtown Hospital, Coca-Cola Headquarters, CNN World Headquarters, Georgia World Congress Center, AmericasMart, Georgia Dome, Phillips Arena, Georgia Aquarium, College Football Hall of Fame, Piedmont Park, Centennial Olympic Park, and the World of Coca-Cola.
The property features 31,000 square feet of meeting and banquet space, including a 25th Floor conference area that offers spectacular panoramic views of Buckhead, Midtown, and Downtown Atlanta. Amenities include an outdoor pool and expansive sun deck, fitness center and locker rooms, business center, three on-site dining options, and a Thrive Coffee bar.
The transaction was arranged by Peter E. Dannemiller, Managing Director of Hodges Ward Elliott.