HFF arranges $58.54 million construction financing for hotel development at The Battery in Atlanta, Georgia
DALLAS, TX – July 18, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $58.54 million in construction financing from U.S. Bank for the development of the Omni Hotel at The Battery Atlanta, a 264-room, full-service, luxury hotel that will serve as a cornerstone of the mixed-use community adjacent to SunTrust Park, the future home of the Atlanta Braves.
Working on behalf of the borrower, TRT Holdings, Inc. and Braves Development Company, LLC, HFF placed the 42-month construction financing with two one-year extensions with U.S. Bank.
Omni Hotel at The Battery Atlanta will be a 16-story premier property with 25 suites and three hospitality suites included in its 264 guest rooms. The hotel will feature approximately 12,000 square feet of meeting space, a restaurant with rooftop seating, outdoor pool with a deck and bar, state-of-the-art fitness center, wine and coffee bar, retail outlets on the third floor and concierge services. Anchoring the southern end of The Battery plaza, Omni Hotel at The Battery Atlanta will be situated just outside of the gates of SunTrust Park, the 41,500-seat stadium that will be the new home of the Atlanta Braves Major League Baseball team beginning with the 2017 season. The Battery Atlanta, a mixed-use development is situated at the intersection of Interstates 75 and 285 in the northern part of Atlanta.
The HFF team was led by senior managing director Whitaker Johnson and director Jim Curtin.
About TRT Holdings, Inc.
TRT Holdings, Inc. (TRT Holdings) is a privately owned, diversified holding company based in Dallas, Texas, with primary interests in hospitality, energy, fitness and real estate, as well as an extensive investment portfolio. TRT Holdings is the parent company to Omni Hotels & Resorts. TRT Holdings purchased Omni Hotels & Resorts in 1996 and today operates 60 luxury properties (including 14 resorts) in business gateways and leisure destinations across North America.
About Braves Development Company, LLC
Braves Development Company, LLC, is a subsidiary of Braves Holdings, LLC, which manages The Battery Atlanta. Braves Holdings, LLC also owns the Atlanta Braves baseball team. Braves Holdings, LLC is owned by Liberty Media Corporation, which owns interests in a broad range of media, communications, and entertainment businesses, including subsidiaries Sirius XM Holdings Inc. and Atlanta National League Baseball Club, LLC; an interest in Live Nation Entertainment, Inc.; and minority equity investments in Time Warner Inc. and Viacom Inc.
About U.S. Bank
Minneapolis-based U.S. Bancorp, with $428 billion in assets as of March 31, 2016, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The company operates 3,133 banking offices in 25 states and 4,936 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.