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Songy Highroads, Hyatt Close $32.9M Construction Loan for Hyatt Place Centennial Park in Downtown Atlanta

summary

Atlanta-based developer Songy Highroads LLC and Hyatt Hotels Corp. have closed on a $32.9 million construction loan for Hyatt Place Centennial Park

date

March 21, 2018

location

Atlanta, GA

Songy Highroads, Hyatt Close $32.9M Construction Loan for Hyatt Place Centennial Park in Downtown Atlanta

Article originally posted on March 21, 2018 by REBusinessonline.com

ATLANTA — Atlanta-based developer Songy Highroads LLC and Hyatt Hotels Corp. have closed on a $32.9 million construction loan for Hyatt Place Centennial Park, a 175-room hotel that will be located at 300 Luckie St. in downtown Atlanta. Designed by Wakefield Beasley, the 11-story hotel will be situated directly across the street from the Georgia Aquarium and one block from Centennial Olympic Park. Ed Coco led HFF’s team in arranging the loan through HSBC on behalf of the Songy Highroads-Hyatt joint venture. Set to open in August 2019, the hotel will feature a parking garage, pool, fitness center, 2,100 square feet of meeting space and retail facing Luckie and Marietta streets. General contractor Reeves Young is underway on construction, which included razing an existing two-story building at the site. Hyatt Place Centennial Park will mark Songy Highroads’ sixth Hyatt-branded development since 2014.

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About the company

SHR Resi was formed in 2022 by Songy Highroads (SHR) principals to acquire value-add multifamily properties in the metropolitan Atlanta area as well as selective ground-up development of new multifamily mixed-use communities. SHR began expanding into multifamily investments in 2017 to diversify and complement its holdings in commercial real estate and institutional quality hotels and hospitality properties. Marvin Banks, Jr. is Chairman while R. Foster Durkee serves as President, with Taylor Callaway covering acquisitions. Learn more at songyhighroads.com.

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Songy Highroads, Hyatt Close $32.9M Construction Loan for Hyatt Place Centennial Park in Downtown Atlanta

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Institutional / Quality / Real Estate