Investor Duo Secures $54M Refi for Buckhead Hotel
A joint venture between Songy Highroads and the Hyatt Corporation has obtained a $54 million loan from Deutsche Bank for the 218-room Hyatt Centric Buckhead Atlanta. Commercial Edge reports that the refinancing takes over for a $48 million Citizens Bank loan set to mature within the year.
The 18-story hotel, which opened in 2021, includes a restaurant and rooftop bar. It is just behind Simon Property Group’s Lenox Square, which was built in 1959 and still ranks as one of Atlanta’s top retail centers.
JLL Capital Markets represented Songy Highroads and the Hyatt in securing the new loan.
Songy Highroads LLC (SHR) says it’s a commercial real estate firm that acquires, renovates, develops, and manages institutional quality real estate projects primarily throughout the Southeastern United States. SHR targets particular emphasis in the residential, office, hotel, and mixed-use sectors. The SHR business model is to strategically acquire or manage income properties in select viable markets that require enhanced operating performance or physical upgrades.
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Atlanta Commercial Real Estate News
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