Atlanta, GA – (January 4, 2021) — California-based Bolour Associates Inc. (BOLOUR), a privately-owned real estate investment, development and finance company, recently provided an acquisition loan for a hotel-to-microunit multifamily redevelopment plan at a time when existing hospitality-related debt is in limited supply.
The non-recourse, $8.3 million loan supports the transition of a 375-room, 1972-built hotel into a Class A multifamily building located in the heart of the Summerhill neighborhood – the 80-acre redevelopment of Atlanta’s former Olympic stadium area.
Adjacent to downtown, this highly walkable community offers unrivaled access and visibility, with an up-and-coming mix of culture, food, entertainment, education, housing and modern commercial office space.