Later this year, RLJ Lodging plans to close down the hotel and make a comprehensive renovation. It w

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RLJ Lodging Trust ( RLJ - Snapshot Report ) purchased renting a car in cozumel a hotel Residence Inn Atlanta Midtown Historic in Atlanta, Ga. through a foreclosure sale. The move helped the company to add a premium asset to its portfolio at a substantial discount to its replacement cost.
In particular, RLJ Lodging purchased a mortgage loan in Nov 2009 for around $5.0 million. The loan was collateralized by this 78-room Residence Inn Atlanta Midtown Historic. With the borrower defaulting on the loan early this year, RLJ Lodging acquired the property through a bid that equaled the company s basis in the mortgage loan.
Having around 16.5 million square feet of total office space within close proximity, the hotel is expected renting a car in cozumel to benefit greatly from the corporate demand. Headquarters of notable companies like The Coca-Cola Company ( KO - Analyst Report ), UPS, The Home Depot, Inc. ( HD - Analyst Report ), and Delta Air Lines Inc. ( DAL - Analyst Report ) are located here. Also, the Federal Reserve Bank of Atlanta, Georgia Institute of Technology, Equifax, Norfolk Southern and PricewaterhouseCoopers renting a car in cozumel are positioned nearby.
Later this year, RLJ Lodging plans to close down the hotel and make a comprehensive renovation. renting a car in cozumel It will reopen in the third quarter of 2014 and the company estimates investments (including capital expenditures) to lead to a forward capitalization rate of about 12% based on the 2015 net operating income of the hotel.
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