Holiday Inn Express & Suites Alpharetta-Windward Parkway,
12505 Innovation Way, Alpharetta, GA
ATLANTA, GA —Officials of Satori Collective, a real estate investment management firm focused primarily on hotel property investment, announced the sale of the 124-suite Holiday Inn Express & Suites Alpharetta-Windward Parkway to Bukhari Group Hospitality. Satori achieved an approximate 24% internal rate of return and a 2x equity multiple through the sale.
The price was not disclosed.
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| Samir Yajnik |
“Through the past ten years, we have maintained
our vision and were rewarded by unlocking the hotel’s financial potential.
"Our original underwriting and research
proved true given the upside realized by the improved brand quality and the
hotel’s unmatched location in the thriving Alpharetta market.
"We are proud to have successfully
executed our value-add strategy with this investment to generate above market
returns for our investors given the challenging capital markets environment at
present.”
Located
at 12505 Innovation Way, the all-suite hotel is ideally situated in the
Alpharetta business corridor surrounded by such companies as Fiserv, Hewlett
Packard and ADP, as well as Ameris Bank
Amphitheatre and
Avalon.
Andy Chopra
“At present, we are diligently pursuing
opportunistic and value-add acquisition opportunities,” said Andy Chopra,
co-founder and managing partner, Satori Collective.
“With an eye toward continued future growth,
we continuously review our portfolio for opportunities to monetize assets for
our investors.”
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