Refinancing secured for the 218-key Hyatt Centric Buckhead Atlanta
JLL Capital Markets worked on behalf of Songy Highroads LLC and Hyatt Hotels Corporation in this transaction
ATLANTA, May 14, 2024 – JLL Capital Markets announced today that it arranged financing for the 218-key Hyatt Centric Buckhead Atlanta in Georgia.
JLL represented the borrower, a joint venture between Songy Highroads LLC and an affiliate of Hyatt Hotels Corporation, in securing the loan from a global bank.
Hyatt Centric Buckhead Atlanta is an 18-story hotel that opened in 2021. The hotel features diverse food and beverage options including Three Arches restaurant adjacent to the hotel’s ground floor lobby and Spaceman, a one-of-a-kind rooftop bar experience with sweeping panoramic views of the Atlanta skyline. Additional hotel amenities include a fitness center, pool and more than 5,000 square feet of flexible meeting and event space.
Located at 3301 Lenox Square Parkway NE, the hotel offers prominent visibility along GA 400 and sits immediately adjacent to Lenox Square Mall, as well as the Buckhead Financial District and Buckhead’s Historic Peachtree Park neighborhood.
“Our collaboration with Hyatt has been a success in delivering new hotels in desired submarkets," said Todd Nocerini, President of Songy Highroads LLC. "This Hyatt Centric hotel is ideally situated in the heart of Buckhead, offering demand drivers and amenities attractive to local, national and international travelers alike."
The JLL Capital Markets team was led by Senior Managing Director Ed Coco and Managing Director Matt Casey.
“Higher quality hotel assets continue to perform and demonstrate liquidity in today’s market,” said Coco. “The combination of a high-quality property and well-capitalized, institutional ownership was instrumental in successfully executing on this refinance.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About Songy Highroads LLC
Songy Highroads LLC (SHR) acquires, renovates, develops and manages institutional quality real estate projects throughout the United States with a focus on the Southeast. SHR targets opportunities in the hotel, office, and mixed-use sectors. Each project is typically financed through a combination of equity provided by SHR and that of a selected institutional equity partner. The premise of SHR’s business model has been to acquire income properties in select markets that require extensive renovation. Once renovation is completed and peak operating levels are reached, SHR recapitalizes the properties through a refinance or sale. SHR also develops ground-up office buildings and hotels on high-profile sites in select markets. SHR was founded in 2010 and has acquired and developed more than 5 million square feet and has nearly $2.0 billion in project investments completed or underway. SHR is recognized in the office and hotel sectors as a proven market leader, offering institutional quality real estate through innovative strategies. songyhighroads.com
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.