Hodges Ward Elliott has been exclusively retained by Machine Investment Group ("MIG") and Lionshead Capital Partners ("Lionshead," and together with MIG, the “Sponsor”) to arrange up to 65% loan-to-cost (“LTC”) financing ($28,517,722 / $44,489 per key) on a fixed or floating rate basis to finance the acquisition of the Atlanta Airport Marriott (the “Hotel” or the “Property”). The Sponsor plans to execute approximately $13.5 million in capital improvements, which will be capitalized via an FF&E Reserve that is being transferred with the purchase. The current balance of the FF&E Reserve is approximately $13.5 million and will continue to accrue through closing and post-closing, providing future capital expenditure support.
The Property consists of 641 rooms situated on 15.5 acres at the southwest corner of Hartsfield-Jackson Atlanta International Airport (“ATL”), near the intersection of I-85 and I-285. The Sponsor is acquiring the Hotel for $42.0 million ($65,523 per key), inclusive of the transferring FF&E Reserve of $13.5 million.
Targeted capex investments include a comprehensive renovation of the meeting spaces (last updated in 2011/2012), select public area enhancements, and infrastructure upgrades such as roofing, waterproofing, and elevator modernization. The infrastructure scope aligns with Marriott’s 2025 capital plan. Guestrooms were last renovated and brought online in 2017, and remain in strong competitive condition.
As of February 2026, the Hotel generated $3,990,963 of NOI, equating to a 14.0% debt yield on requested loan proceeds at 65% LTC.
Machine Investment Group specializes in opportunistic, distressed, and special situations investments across the United States. The principals have invested in hotels totaling more than 16,000 keys. Lionshead Capital Partners is a hotel investment platform which owns and operates numerous Marriott-branded hotels. Lionshead's partners have overseen operations and asset management for more than 30 full service and limited service Marriott hotels.
LOAN REQUEST
| Loan Type: | Acquisition Financing |
| Loan To Cost Basis: | 65.0% |
| Total Loan Amount: | $28,517,722 |
| Loan Amount Per Key: | $44,489 |
| Debt Yield (Feb. 2026 TTM): | 14.0% |
| Debt Yield (Y3 2028): | 21.7% |
| Term: | 3 - 5 Years |
| Interest Rate: | Best Available Fixed or Floating Rate |
| Amortization: | Maximum Interest-Only Period |
| Recourse: | Non-Recourse |
PROPERTY SUMMARY
| Address: | 4711 Best Road Atlanta, GA 30337 |
| Property Type: | Hotel |
| Guestrooms: | 641 |
| Year Built/Last Reno: | 1981/2017 |
| Interest Conveyed: | Fee Simple |
| GBA: | 402,000 SF |
| Land: | 15.5 Acres |
| Meeting & Event Space: | 30,178 SF (34 Rooms) |
| Parking: |
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| Food & Beverage: |
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| Amenities: |
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| Management: |
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| Purchase Price: | $42,000,000 |
| Purchase Price Per Key: | $65,523 |
Investment Highlights
Attractive all-in cost basis of $65,523 per key and an initial loan basis of $44,489 per key, representing a significant discount to replacement cost and recent comparable sales in the airport submarket.
Strong historical and in-place financial performance, with a 14.0% debt yield as of February 2026 T-12 NOI on request proceeds - supporting substantial lender coverage and risk mitigation.
Well-maintained physical plant with over $30 million of capital investment since 2013, including $17 million since 2017, setting a strong foundation for the Sponsor's upcoming targeted improvements.
Latent opportunities to drive top-line performance and improve profit margins through active asset management.
The Sponsor will embark on a major CapEx project budgeted at approximately $13.5 million to reposition and refresh the Hotel. The scope prioritizes meeting and ballroom spaces (including full soft-goods replacement, new banquet furniture, staging equipment, complete lighting/dimming/audio upgrades, and pre-function enhancements), guestrooms and corridors (mattress/artwork/seating refreshes, bathroom tile repairs/regrouting, vanity updates, and full corridor soft-goods), deferred maintenance (especially elevator modernization for all nine units, roof replacement on the tower and wing, and fire pump), technology infrastructure (full HSIA, PMS, phone switch, and server refresh), and exterior/arrival improvements (enhanced landscaping, parking restriping, new signage, and porte-cochere reconcept). Following renovation and active asset management, NOI is forecast to grow to $6.2 million by 2028, a conservative benchmark relative to pre-pandemic levels.
No new competitive hotel supply in the pipeline, coupled with long-term demand growth from the $11.5 billion ATLNext expansion at Hartsfield-Jackson International Airport, enhances asset durability and RevPAR resiliency.
Atlanta’s macroeconomic fundamentals remain robust, with population forecasted to grow from 6.1 million to 8.0+ million by 2050, and 18 Fortune 500 companies headquartered in the metro. The airport submarket is anchored by the #1 busiest airport in the world, and garners a diverse and balanced demand mix of group, transient, and contract customers.
Strong and well capitalized Sponsors with extensive experience operating Marriott hotels.
OPERATIONAL UPSIDE
Group Room Night (GRN) recovery underway: The Hotel averaged 66,000 GRN pre-pandemic (peak of 76,000 in 2017) and currently generates ~40,000 GRN. Stabilized underwriting assumes a return to 61,000 GRN.
RevPAR CAGR underwritten at 2.5% from 2019–2029, in line with inflation expectations and supported by compounding demand and brand strength. This compares favorably with the 2.9% CAGR between 2007–2019.
Room profit margins are conservatively underwritten at 72%, despite comps like Marriott Gateway (75%) and Hilton Atlanta Airport (83%) operating at higher efficiency. Upside remains through asset management strategies including labor optimization and operational expense controls.
Food & Beverage (F&B) margin expansion anticipated: Revenue per Occupied Group Room (ROGR) is projected to grow from $150 (2024) to $190 (2029), alongside a capital improvement to meeting space.
By comparison, Marriott Gateway achieved $307 ROGR with 47,000 GRN. F&B profit margin is expected to grow from 33% to 37.5%, with upside toward Hilton (40%) and Gateway (48%) benchmarks. AAM’s banquet & catering mix is underwritten to grow from 59% to 71% by 2029.
Sponsorship Overview
Machine Investment Group is a real estate investment platform specializing in opportunistic, distressed, and special situations investments across the United States. With a proven track record, the firm has successfully deployed over $2 billion in capital across a diverse range of strategies. Machine’s strict risk discipline, institutional operating processes, and well-developed sourcing network have been cycle-tested and are designed to deliver consistent, opportunistic returns while effectively managing risks.
Formed in 2021 by industry veterans Jonathon Vopinek and Todd Ratliff, Lionshead was created to leverage the founders’ collective hospitality experience and connections to originate and capitalize on attractive real estate investment opportunities within the hotel sector.
Through Jonathon's current companies and previous tenure at R.D. Olson Development, he has spent more than a decade developing, owning, and asset managing Marriott hotels, including 10+ ground-up developments and asset management of more than 30 Marriott properties.
Todd Ratliff spent more than 20 years at Hodges Ward Elliott raising capital for ground-up developments and advising on hotel transactions totaling multiple billions of dollars and across virtually every chain scale and geographic region in the country.
Asset management services are exclusively provided by the highly seasoned professionals at White Label Asset Management - www.whitelabelam.com
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