Hilton Garden Inn Johns Creek
Newly renovated property will be positioned to command a significant premium in ADR
Property Type
Hotel
Investment Type
Acquisitions
Brand
Hilton
Date of Investment
June 2023
Location
Johns Creek, GA
Keys
122
Units
Square Footage
Loan Type
Loan to Value
Loan to Cost
Total Origination
Strong Submarket Fundamentals
The median household income is $152K and the there is a Master Plan to accommodate recent growth (10-year growth - 7.5%) and for future development
Value-Add Opportunity
Upon renovation, the hotel will be the newest renovated property in the area and will be positioned to command a significant premium in ADR
Operational Upside and Efficiencies
Identified underperforming areas, including revenue management and various cost-savings practices. Operates six other hotels in the Atlanta market creating savings via shared costs and operational synergies
Significant Discount to Replacement Costs
Underwritten all-in basis ($166K/Key) represents a 31.7% discount to replacement cost ($242K/Key) from comparable hotels
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