ATLANTA—Officials of Satori Collective announced the sale of the 124-suite Holiday Inn Express & Suites Alpharetta-Windward Parkway to Bukhari Group Hospitality. Satori achieved an approximate 24 percent 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 reflag 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.”
The all-suite hotel is situated in the Alpharetta business corridor surrounded by such companies as Fiserv, Hewlett Packard, and ADP, as well as Ameris Bank Amphitheatre and Avalon. Hotel amenities include an outdoor pool, business center, 24/7 fitness room, and meeting space for up to 40 people. Suites provide a guestroom, sleeper sofa and seating in separate space, a work area with desk and business chair, bedding, lighting throughout, and a bathroom. The hotel also provides 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.”
