Norwalk, CT – HEI Inns & Resorts, one of many nation’s main operators of institutionally owned full-service motels with a portfolio of greater than 100 properties throughout the USA, introduced that it has assumed administration of the 360-room Crowne Plaza Resort and the 102-unit Staybridge Suites Resort, a dual-branded lodge advanced in Midtown Atlanta, Georgia. Owned by associates of Ramsfield Hospitality Finance and funds managed by AB CarVal, the motels are positioned within the coronary heart of Atlanta’s thriving Midtown district and simply minutes from downtown, Georgia Tech College, Coca-Cola World Headquarters, Mercedes Benz Stadium, the Georgia World Congress Heart, Hartsfield-Jackson Worldwide Airport, and the Buckhead Enterprise District.
Supply: HEI Inns
We’re happy to have HEI engaged as supervisor of those Midtown Atlanta belongings and look ahead to the subsequent chapter for these strategically positioned motels. Richard Mandel, President of Ramsfield Hospitality Finance
We’re honored to develop our relationship with Ramsfield Hospitality Finance by means of these distinctive, dual-branded belongings. HEI’s administration platform and repositioning abilities will assist to ascertain the Crowne Plaza and Staybridge Suites motels as premier, high-value lodging experiences for guests to the Midtown Atlanta group, and we’re excited to drive worth on their behalf. HEI Inns & Resorts CEO and Managing Accomplice, Anthony Rutledge
The Crowne Plaza supplies an out of doors swimming pool, a health heart, and 17 assembly rooms that comprise practically 31,000 sq. ft of assembly and occasion house, together with a 6,000-square-foot ballroom. The lodge’s meals and beverage services embrace a restaurant, a foyer lounge, and a seize & go espresso store. The Staybridge Suites supplies 102 models. It shares leisure services and facilities with the Crowne Plaza and gives a complimentary continental breakfast. Renovations of the lodge’s assembly and banquet house are underneath manner with completion anticipated in summer time 2023.
About Ramsfield Hospitality Finance
Ramsfield Hospitality Finance is a lodge actual property proprietor, lender, and asset supervisor. Since 2003, RHF has remodeled $2.5 billion in debt and fairness investments on hospitality belongings. RHF’s experience in opportunistically investing in belongings throughout the whole capitalization stack allows it to establish, execute, and succeed by means of altering financial cycles whereas incomes applicable danger adjusted returns. Utilizing the depth of its capital assets, market data, and experience, RHF creates versatile funding methods that meet the wants of its companions and traders. For extra details about RHF, go to www.ramsfieldrealestate.com.
About AB CarVal
AB CarVal is a longtime world various funding supervisor centered on distressed and credit-intensive belongings and market inefficiencies. Since 1987, AB CarVal’s workforce has navigated by means of ever-changing credit score market cycles, opportunistically investing $143 billion in 5,680 transactions throughout 82 nations. Right this moment, AB CarVal has roughly $16 billion* in belongings underneath administration in company securities, mortgage portfolios, structured credit score and onerous belongings.
*AUM is comprised of fee-earning AUM and fee-eligible AUM. Payment-earning AUM consists of these belongings at the moment certified to generate administration charges. Payment-eligible AUM consists of capital that’s dedicated to an AB CarVal Fund however is at the moment uncalled or recallable. The quantity represented right here excludes belongings underneath AB CarVal’s administration that aren’t producing administration charges as a result of maturity of the Fund.
About HEI Inns & Resorts
HEI Inns & Resorts, headquartered in Norwalk, Conn., is a number one hospitality funding and administration firm that owns or operates greater than 100 luxurious, upper-upscale and upscale impartial and branded motels and resorts all through the USA. HEI’s branding companions embrace Marriott, Hilton, Hyatt, IHG, Selection and Wyndham. The corporate is famend for its dedication to its associates underneath the tradition of HEI Loves, its income administration, revenue contribution and empirically based mostly actual property worth creation, pushed by a full complement of proprietary software program instruments to set and exceed targets on a completely built-in foundation. HEI works hand-in-hand with institutional capital companions on present belongings underneath administration in addition to sponsored acquisition alternatives. The corporate has ample fairness capital and strategically co-invests with its companions on many transactions. To be taught extra about HEI, please go to www.heihotels.com.
