Satori Collective completes sale of 124-Suite Holiday Inn Express & Suites Alpharetta-Windward Parkway
ATLANTA – Officials of Satori Collective, a real estate investment management firm focused primarily on hotel property investment, today 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.
“We purchased this all-suite property in 2013 and quickly conducted a comprehensive, multi-million dollar, value-add renovation to re-flag the property to a Holiday Inn Express & Suites by IHG,” said Samir Yajnik, CIO, Satori Collective. “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.”
Hotel amenities include an outdoor pool, business center, 24/7 fitness room and meeting space for up to 40 people. Suites provide an oversize guest room, sleeper sofa and seating in separate space, work area with desk and ergonomic business chair, plush and comfortable bedding, ample lighting throughout and a bathroom designed for comfort and convenience. The hotel also provides complimentary high-speed internet service in both rooms and public spaces.
“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.”
The article Satori Collective completes sale of 124-Suite Holiday Inn Express & Suites Alpharetta-Windward Parkway first appeared in TravelDailyNews International.