Alex. Brown Realty JV with Hotel Development Partners to Develop Courtyard by Marriott in Alpharetta, Georgia

Alex. Brown Realty | October 9, 2017

BALTIMORE--October 9, 2017--Alex. Brown Realty, Inc. (ABR) and Hotel Development Partners (HDP) have announced plans to develop a 115-room Courtyard by Marriott in Alpharetta, Georgia. ABR Chesapeake Fund V, a value-add real estate fund sponsored by ABR, invested $7.2 million in the joint venture. Financing for the project will be provided by the Bank of North Georgia, a division of Synovus Bank. The joint venture recently closed on the 1.9 acre site located off of Old Milton Parkway directly across from Avalon – the 86-acre mixed-use development that is expected to be a major demand generator for the hotel. "Alpharetta is experie...