Summary
The Westin Peachtree Plaza is a landmark full-service hotel situated in the heart of downtown Atlanta, Georgia, steps from Peachtree Street and within the city’s central business and convention corridor. The historic 73-story tower comprises 1,073 guest rooms and approximately 130,000 square feet of meeting and event space, alongside a collection of food and beverage outlets. A planned two-phase renovation will modernize guest rooms and corridors, meeting space, and the restaurant, lobby, fitness center, pool, and escalator areas. The renovation will transform one of the tallest and most recognizable buildings in Atlanta, while providing city visitors with an exciting new lodging option.
C-PACE Opportunity
NGC provided $63.97 million in C-PACE financing alongside senior lender BMO Bank, N.A. in support of the sponsor Portman Holdings’ acquisition and renovation of the Westin Peachtree Plaza. The C-PACE financing enabled the sponsor to access long-term, fixed-rate, non-recourse capital that addressed both the acquisition and phased renovation — filling a critical role in the capital stack that traditional financing structures are often unable to accommodate at this scale and complexity.
