Atlanta Marriott Gets $57M Refi

Integrated Capital has nearly finished $14 million of renovations at the 344-key hotel. The new loan retires a $52.8 million prior mortgage held by Emigrant Bank.
Atlanta Marriott Perimeter Center

Integrated Capital has taken a $57 million refinancing package from Aareal Bank for the Atlanta Marriott Perimeter Center, a 344-key hotel. The loan pays down a prior, $52.8 million mortgage held by Emigrant Savings Bank. The loan matures in three years with the option to extend by one or two years, according to DeKalb County records.

A Perkins Coie team of Daniel Marre, Jaclyn McNally and Edward Wicks secured the financing on behalf of the owner. In July, the law firm signed a nearly 60,000-square-foot office lease in Manhattan.

Located at 246 Perimeter Center Parkway N.E. in Dunwoody, Ga., the building rises 14 stories alongside Interstate 285, approximately 15 miles from the downtown Atlanta. The Dunwoody Station operates a short walk from the hotel, with the 1.6 million-square-foot Perimeter Mall nearby. Upwards of 18 million square feet of Class A office space is within a mile of the hospitality asset, according to Yardi Matrix.

The Marriott is currently undergoing a significant, $14 million renovation, which will update guestrooms, amenities and the building’s façade. The hotel offers guests a 24-hour fitness center, a swimming pool and 18,000 square feet of meeting and conference space.

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