CIVITAS CAPITAL GROUP PROVIDES MEZZ LOAN IN REFINANCING OF KIMPTON OVERLAND HOTEL ATLANTA AIRPORT

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Feb 02, 2024, 11:43 ET

DALLAS, Feb. 2, 2024 /PRNewswire/ -- Civitas Capital Group, a Dallas-based alternative investment manager offering niche opportunities in U.S. real estate, today announced it has provided a mezzanine loan to facilitate the refinancing of the Kimpton Overland Hotel Atlanta Airport.

Civitas provided the mezzanine loan to ACRON AG to facilitate the refinancing of the Kimpton Overland, a 214-room modern boutique hotel located just 1.5 miles from Hartsfield-Jackson Atlanta International Airport. The transaction allowed the borrower to pay down its existing senior lender and achieve a substantially improved overall blended rate on the financing for the hotel.

In this challenging real estate debt capital markets environment, Civitas' bridge lending platform continues to provide borrowers the necessary flexibility and runway to achieve stabilization of their assets and preserve long-term value. Civitas can bridge the gaps between the needs of institutional real estate investors and the capacity available from traditional sources of financing such as banks, life insurance companies and the CMBS market.

"We are thrilled to be able to provide this financing on a unique and newer vintage asset," said Melanie Pugmire, Vice President, Lodging Investments. "Kimpton Overland Atlanta is one of only three upper‐upscale properties delivered in the Atlanta airport market since 2017. This was a highly beneficial execution for the borrower."

The hotel is located approximately 9 miles south of downtown Atlanta and six minutes from the International Terminal at Hartsfield-Jackson Airport. Amenities for the hotel include onsite restaurant, rooftop deck and lounge which overlooks the 1.6 mile driver development track at the Porsche Experience Center, hosted evening wine hour, free airport shuttle, indoor pool, fitness center, and 6,100 sf of event space.

"The partners on this project are truly committed to its success," Pugmire said. The sponsor, ACRON, is a Switzerland-based investment management firm offering investors opportunities to acquire prime projects in the major markets throughout Europe and North America. ACRON's hotel management partner on the Kimpton Overland Atlanta, TPG Hotels & Resorts, is widely recognized as one of the nation's premier hotel management companies.

ABOUT CIVITAS CAPITAL GROUP
Civitas Capital Group is a nimble alternative investment manager, founded in 2009, offering compelling, niche opportunities in U.S. real estate. Civitas exists to create opportunities that enrich our communities, investors, and employees alike. Driven by relentless creativity, Civitas digs deeper to uncover opportunities that others miss. Follow Civitas Capital Group on LinkedIn. Learn more at civitascapital.com.

SOURCE Civitas Capital Group