Courtyard by Marriott
LOAN AMOUNT: $10,020,000
LOAN TYPE: SBA 504 Loan
INDUSTRY: Hospitality
LOAN DETAILS
Location
Buford, Georgia
1st Mortgage
$ 5,500,000
Term
25 years
2nd Mortgage
$ 4,520,000
Term
20 years
Jobs
28
History
The lender was able to refinance the commercial real estate known as Courtyard by Marriott Mall of Georgia with the help of the SBA 504 Refinance Program. The existing lender, a hedge fund, did not want a long term loan.
Located just off of Interstate 85 in Buford Georgia, a northeast suburb of Atlanta, the 5-story Courtyard by Marriott at the Mall of Georgia contains 110 guest rooms and was built in 2009. Guests have immediate access to the two million square foot Mall of Georgia, which is located just ½ mile from the hotel. Guests also have convenient access to both Cool Ray Field, home of the Atlanta Braves’ AAA affiliate the Gwinnett Braves, and Lake Lanier.