Satori Collective, a real estate investment management firm focused primarily on hotel property investment, has sold 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 of the Alpharetta, GA, property.
“We purchased this all-suite property in 2013 and quickly conducted a comprehensive, multimillion-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 10 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 located in the Alpharetta business corridor surrounded by such companies as Fiserv, Hewlett Packard and ADP, as well as the Ameris Bank Amphitheatre and the Avalon mixed-use development. Hotel amenities include an outdoor pool, business center, 24/7 fitness room and meeting space. Suites provide an oversized guestroom; sleeper sofa and seating in a separate space; and a work area with desk and ergonomic business chair. The hotel also provides complimentary WiFi in rooms and public spaces.
“At present, we are diligently pursuing opportunistic and value-add acquisition opportunities,” said Andy Chopra, cofounder/managing partner, Satori Collective. “With an eye toward continued future growth, we continuously review our portfolio for opportunities to monetize assets for our investors.”