Driftwood Capital (“Driftwood”) secured $28.5 million in refinancing for the Wylie Hotel Atlanta.

Fortress Investment Group provided a 36-month loan at a competitive interest rate to refinance the Wylie.

Driftwood Acquisition Partners (“DAP”) acquired the independent Wylie Hotel in 2021 and rebranded it into a Tapestry by Hilton in 2023.

Located at 551 Ponce De Leon Ave NE, the 111-key Wylie Hotel features dining options such as Mrs. P’s Bar & Kitchen.

Driftwood says it is well-versed in acquisitions, development and lending. It sources, underwrites, structures and closes investments across diverse markets and asset types, from name brands to boutique properties. Then, it brings its experience in hotel management to each investment, seeking to add value and improve operations to deliver superior risk-adjusted returns in hospitality.

Driftwood Capital acquired the Marriott Raleigh Durham Research Triangle Park, a 225-key full-service, hotel located in North Carolina’s Research Triangle area. Driftwood will carry out an extensive renovation project to enhance numerous features throughout the Hotel. They’ve committed $9 million on upgrades that include improvements to guest rooms, implementing a central air system, and introducing new amenities such as an expanded fitness center and a premium M Club lounge.

Franklin BSP Realty Trust originated a multimillion, two-year loan with three one-year extension options.

Built in 1988, the Hotel is Driftwood’s third acquisition in North Carolina and its second within the Research Triangle. Located at 4700 Guardian Drive, the Hotel is anchored by hundreds of surrounding companies and is near Tier-1 research universities.

Driftwood investment strategies include hospitality acquisition, development, and lending. Driftwood is developing the approximately $410 million Westin Cocoa Beach project in Cocoa Beach, FL.