SCR Secures $17.9M Refinance Loan For Voco The Darwin Hotel In Atlanta's Old Fourth Ward
585 Parkway Drive Northeast
$17,900,000
Building Size
—
Asset Type
Hotel
Closing
Dec 10, 2024
About this deal
AI
The asset involved is voco The Darwin Hotel, located at 585 Parkway Drive Northeast, Atlanta, GA. This boutique hotel features 111 rooms and incorporates local arts and a rotating pop-up chef program. It is the first voco property near IHG's Americas headquarters. Arriba Capital facilitated a refinance transaction for the property amounting to $17,900,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $17,900,000
- Loan Type: Refinance
- Landlord: SCR
- Broker: Tim Valaski - Arriba Capital
Arriba Capital has successfully closed a senior refinance for the hotel. This transaction highlights the involvement of Tim Valaski, who represented the interests of the parties in this deal.
On the Map
$17,900,000
Hotel
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Players
Atlanta Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93