NATIONAL REPORT—Flag Luxury Group’s first new-build project in New York City has received financing, a Homewood Suites is sold in Atlanta, and there’s more.
Atalaya Closes $315M Financing for NYC Flagship Ritz-Carlton
Atalaya Capital Management has closed a $250 million senior construction loan and a $65 million preferred equity investment to finance Flag Luxury Group’s construction and development of The Ritz-Carlton’s new flagship hotel to be located at the corner of 28th St. and Broadway in Manhattan. This project will be the first ground-up hotel construction in New York City completed by Flag, which has developed numerous hotels and resorts, including four Ritz-Carlton properties in Florida.
Homewood Suites Atlanta Buckhead Is Sold
Hunter Hotel Advisors has completed the sale transaction of the Homewood Suites Atlanta Buckhead in Atlanta. “We achieved premium pricing and contract terms on the sale of the Homewood Suites Buckhead due to the prime location in the heart of Buckhead and the strength of the Homewood Suites brand,” said Teague Hunter, president, Hunter Hotel Advisors.
PMZ Arranges $32M Loan for Hotel Portfolio in GA
PMZ Realty Capital LLC has closed a $32 million fixed-rate loan to refinance a three-property portfolio in Georgia. The portfolio includes the 150-room Hyatt Place Airport North in Atlanta; the 132-room Hampton Inn Atlanta/Norcross in Norcross, GA; and the 80-room Fairfield Inn & Suites in Commerce, GA.