Tuesday, February 27, 2024
spot_img
HomeNewsBusiness WireBanyan Investment Group Acquires 114-Suite Homewood Suites by Hilton Atlanta/Perimeter Center

Banyan Investment Group Acquires 114-Suite Homewood Suites by Hilton Atlanta/Perimeter Center

First Acquisition from BLEV Fund

ATLANTA–(BUSINESS WIRE)–Banyan Investment Group (BIG), an Inc. 5000-recognized, vertically integrated hotel investment company that acquires select-service hotels in the United States, today announced the acquisition of the 114-suite Homewood Suites by Hilton Atlanta/Perimeter Center. This hotel marks the first purchase utilizing the recently announced Banyan Lodging Enhanced Value Fund, LLC (“BLEV”), a fund vehicle that offers investors an opportunity to purchase hotels with a combination of strong cash flow and attractive basis with consideration to the impact by the on-going COVID-19 crisis.


“The Homewood Suites by Hilton Atlanta/Perimeter Center represents the ideal asset for our BLEV fund—a well-respected brand situated in an institutional quality location with strong cash flow and multiple demand drivers,” said Samir Yajnik, principal and executive vice president of investments at Banyan Investment Group. “We also were able to acquire the hotel at below-replacement costs, making the deal more attractive and in line with our overall acquisition strategy. We maintain a healthy pipeline of investment opportunities and have an active interest for additional deals that meet our criteria.”

Homewood Suites by Hilton Atlanta/Perimeter Center

Located off Route 400 at 915 Crestline Parkway, the four-story, extended-stay hotel is a half-mile from the Sandy Springs MARTA Station, which provides direct rail access to Hartsfield-Jackson International Airport. The hotel provides complimentary, hot breakfast, free Wi-Fi, indoor pool, fitness center, state-of-the-art business center and 851 square feet of event space. Suites provide separate living and dining spaces, complete with full kitchen, dining table, sleeper sofa and Serta Suite Dreams(R) bedding. Kitchens are equipped with a full-sized refrigerator, microwave, dishwasher and twin burner stove with utensils.

Banyan Investment Group

With offices in Georgia and Florida, Banyan Investment Group is a hotel investment and management company that acquires and manages select-service hotels in the United States. The company utilizes conservative forecasting, combined with a clear understanding of calculated risk taking, to make optimal investments with an overarching goal of exceeding stakeholder expectations of investment returns.

Contacts

Chris Daly, media

(703) 864-5553

[email protected]

spot_img
RELATED ARTICLES
spot_img
spot_img
spot_img

Caribbean News

Canada supports Caribbean development, announces new funding at CARICOM #46HGC

Canada to contribute up to $9.5M in support of One Guyana Digital Skills Development Programme $120 million PBL funding to the Government of...

Global News

Tanzania set to host Commonwealth law ministers meeting on equal justice for all

TANZANIA, East Africa - The United Republic of Tanzania is all set to welcome ministers and attorneys-general to the Commonwealth Law Ministers Meeting, which...