HALL Structured Finance Closes $37.5MM Loan to Finance the Construction of Reverb Hotel in Downtown Atlanta

DALLAS – January 30, 2019 Dallas-based HALL Structured Finance (HSF) announced today that the company has closed a new first lien construction loan totaling $37.5 million to finance the construction of a Reverb Hotel - an upscale, limited-service product by Hard Rock Hotels – located in Downtown Atlanta. The hotel is highly accessible from Alanta’s International Airport, and located within the Castleberry Park mixed-use development, adjacent to the Mercedes-Benz Stadium, home to this year’s NFL Super Bowl. The new 195-room hotel is anticipated to open in February 2020. The project developer is Bolton Atlanta LP, a hotel owner and developer in the Atlanta area.

“This hotel will provide an amplified guest experience complementing Atlanta’s rich cultural scene, and its central location next to Atlanta’s top tourism locations made this an ideal project for us to finance,” said Mike Jaynes, President of HALL Structured Finance. “Atlanta’s growing popularity has made it one of the most visited cities in the United States and we believe there is high demand for an experiential hotel such as the Reverb.”

Amenities at the property will include a five-story parking deck. There will be a restaurant, a business center and meeting spaces all on the ground floor. On the 11th floor, there will be a rooftop bar including an observation deck with skyline views of Downtown Atlanta.

“We had a great experience working with HALL Structured Finance. Their flexible, tailored approach to financing our hotel development made this loan closure seamless, and we are looking forward to moving forward on construction and delivering this Reverb Hotel to the Atlanta community and seeing it flourish.” Said Frank Chen, COO of Bolton Atlanta LP.

Will James, Vice President of Debt & Equity Production at NorthMarq Capital, sourced the financing for the project.

“Choosing the right lender was a careful decision given the complexity of the development,” says Will James of NorthMarq Capital’s Atlanta office, who arranged the financing. “The Castleberry Park mixed-use project will be a great success, acting as a bridge between The Gulch and Mercedes-Benz stadium.”

HALL Structured Finance closed nearly $300 million in construction loans in 2018, and plans to reach $400 million in 2019 given their current pipeline. This is the fourth loan HSF has closed in Georgia since 2016, the most recent being an EVEN Hotel in Alpharetta, Georgia, which is currently under construction. According to research commissioned by HALL Structured Finance, the company has created 258 jobs via the first three projects financed in Georgia, resulting in an estimated economic output of nearly $29 million.

About HALL Structured Finance

HALL Structured Finance is an entrepreneurial, value-add direct private lender to the real estate industry, specializing in providing capital for ground up construction, adaptive reuse, and major asset repositioning and renovations for commercial real estate projects throughout the U.S. For more information, visit hallstructuredfinance.com.

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