TRANSACTION OVERVIEW
Foss arranged $4,100,000 in bridge financing for the acquisition and conversion of a vacant assisted living facility in Lithia Springs, Georgia, into an 86-key Suburban Studios extended-stay hotel. The project represents a unique adaptive reuse opportunity in the Atlanta market, with the property acquired at a significant discount to replacement cost and positioned for conversion to a nationally recognized extended-stay hospitality brand.
Located in Lithia Springs, the property benefits from proximity to a significant concentration of corporate and industrial demand generators, including Amazon, Medline, McMaster-Carr, and Google’s Lithia Springs Data Center. This surrounding employment base supports demand from corporate travelers, contractors, and long-term project workforce, making the location well suited for an extended-stay hotel product.
Foss led the financing process for the acquisition and conversion, navigating the complexities of underwriting an adaptive reuse project mid-conversion. The Foss capital markets team sourced a private credit lender experienced in value-add hospitality strategies and structured a $4.1 million non-recourse bridge loan with full-term interest-only payments. Foss managed the transaction from lender outreach and negotiations through due diligence and closing, delivering a flexible capital solution designed to support the sponsor through completion of the conversion and stabilization of the hotel.
KEY FEATURES
86-key Suburban Studios extended-stay hotel
Adaptive reuse of a former assisted living facility
Acquired at a significant discount to replacement cost
Proximity to major corporate and industrial demand generators, including Amazon, Google, Medline, and McMaster-Carr
Purpose-built to serve corporate travelers, contractors, and long-term project workforce
PROPERTY DETAILS
ROOMS: 86
PROJECT TYPE: Extended-Stay Hotel / Adaptive Reuse
FINANCING: $4,100,000 Bridge Loan