Civitas Capital Group, a Dallas-based alternative investment manager, 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 boutique hotel located close to the 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.
"We are thrilled to be able to provide this financing on a unique and newer vintage asset," Melanie Pugmire, VP, lodging investments, said in a statement. "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 nine miles south of downtown Atlanta and six minutes from the international terminal at Hartsfield-Jackson Airport. Amenities for the hotel include an onsite restaurant, rooftop deck and lounge that 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 square feet of event space.
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 is TPG Hotels & Resorts.