BridgeInvest Closes a $25.5 MM Refinance Loan for the Kimpton Overland ATL
1st Priority Mortgage Loan
BridgeInvest is excited to announce the closing of a $25.5 MM loan to refinance the Kimpton Overland ATL, a 214-key upscale hotel serving the Atlanta International Airport. The sponsor is utilizing the proceeds to takeout the current senior lender and capitalize a $7 MM renovation project to further improve performance.
Transaction Highlights:
- BridgeInvest's 14th transaction in Georgia, building on an established market presence and proven ability to execute
- New ownership following the takeover of a previously underperforming asset
- Loan capitalizes a value-add PIP budget accounting for over 25% of the loan amount