Trez Capital Provides $25.5M Acquisition Loan for Downtown Atlanta Hotel

ATLANTA — Trez Capital has provided a $25.5 million acquisition loan for a 173-room Holiday Inn Express in downtown Atlanta. The hotel was originally built in 1933 and most recently renovated in 2012. The borrowers, IE Development LLC and CG Management LLC, will use loan proceeds to renovate all rooms and build out a 3,240 square-foot rooftop meeting room with outdoor patio to attract more corporate clients. The property includes a small convenience store and a 5,000-square-foot-restaurant that is currently vacant. Hotel operations will continue during the renovation period, which are expected to conclude in summer 2021. The property is situated at 111 Cone St. NW, blocks from Centennial Olympic Park, Mercedes-Benz Stadium, CNN Studios and the Georgia Aquarium. Brett Forman of Trez Capital originated the loan on behalf of the borrowers.