ATLANTA—Officers of Satori Collective introduced the sale of the 124-suite Vacation Inn Specific & Suites Alpharetta-Windward Parkway to Bukhari Group Hospitality. Satori achieved an approximate 24 % inner price of return and a 2x fairness a number of by means of the sale.
“We bought this all-suite property in 2013 and shortly carried out a complete, multi-million greenback, value-add renovation to reflag the property to a Vacation Inn Specific & Suites by IHG,” stated Samir Yajnik, CIO, Satori Collective. “By the previous ten years, we’ve got maintained our imaginative and prescient and had been rewarded by unlocking the resort’s monetary potential. Our unique underwriting and analysis proved true given the upside realized by the improved model high quality and the resort’s unmatched location within the thriving Alpharetta market. We’re proud to have efficiently executed our value-add technique with this funding to generate above market returns for our buyers given the difficult capital markets atmosphere at current.”
The all-suite resort is located within the Alpharetta enterprise hall surrounded by such corporations as Fiserv, Hewlett Packard, and ADP, in addition to Ameris Financial institution Amphitheatre and Avalon. Lodge facilities embrace an out of doors pool, enterprise middle, 24/7 health room, and assembly area for as much as 40 folks. Suites present a guestroom, sleeper couch and seating in separate area, a piece space with desk and enterprise chair, bedding, lighting all through, and a rest room. The resort additionally supplies web service in each rooms and public areas.
“At current, we’re diligently pursuing opportunistic and value-add acquisition alternatives,” stated Andy Chopra, co-founder and managing accomplice, Satori Collective. “With an eye fixed towards continued future development, we repeatedly assessment our portfolio for alternatives to monetize belongings for our buyers.”
