Mar
12
Arriba Secures $41M for Atlanta Dual-Branded Marriott
ByThe 194-key Fairfield Inn & Suites and Towneplace Suites will feature seven stories set atop a 220-space, five-story parking deck.
Arriba Capital has arranged a $40.7 million ground-up construction loan for the development of a dual-branded MarriottFairfield Inn & Suites and Towneplace Suites in Midtown Atlanta. 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.
Fairfield Inn & Suites acts as the primary brand and TownePlace Suites is Marriott’s extended-stay brand. The 194-key dual-branded lodging project will feature seven stories set atop a 220-space, five-story parking deck. The two hotels will share back-of-the-house elements including laundry, maintenance facilities and mechanical/electrical space. Guests will have access to amenities such as:
