WASHINGTON, D.C. – October 30, 2018 – Berkadia’s Hotels & Hospitality group announced today the sale and financing of the DoubleTree by Hilton Hotel Atlanta Airport. Managing Directors Dave Weymer, Kyle Stevenson and Mark Morris and Senior Directors Matthew Bailly and Dan Hawkins, all of the Hotels team, along with Senior Director Judy MacManus of Berkadia’s Atlanta office, arranged the sale on behalf of Baltimore-based Alex. Brown Realty, Inc. Senior Managing Director Andy Coleman and Directors Adrienne Kautzman and Mauricio Rodriguez of the Hotels team arranged financing on behalf of the buyer, an entity formed by Hersha Hospitality Management and Lubert Adler. The deal closed on October 19.
Renovated in 2016, the DoubleTree by Hilton Hotel Atlanta Airport is located at 3400 Norman Berry Drive, within a mile of the Atlanta International Airport and seven miles of downtown Atlanta.
“This asset attracted a broad group of buyers, resulting in a competitive bidding process,” said Bailly.
The highly competitive, non-recourse loan features an adjustable rate, according to Coleman.
This deal comes on the heels of several high profile sales and financing deals for the Berkadia’s Hotels & Hospitality. It marks the group’s fortieth transaction of the year with a healthy pipeline to close out 2018, making the group the fastest growing full-service hospitality commercial real estate platform in the country.
Berkadia’s Hotels & Hospitality group combines best-in-industry innovation, knowledge and experience with the most comprehensive suite of products and services, backed by relentless customer service and support to empower clients to capitalize on the right opportunities at the greatest value. The group serves clients across the country, offering a full set of advisory, investment sales, underwriting and loan origination services and products including Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.