Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged a $31 million refinancing for Sheraton Suites Galleria-Atlanta, a 278-room, all-suite, full-service hotel in Atlanta, Georgia.

The HFF team worked on behalf of the borrower, Olshan Properties, to place the five-year, floating-rate loan with Mesa West Capital. Loan proceeds will be used to retire the existing loan, repatriate sponsor equity and cover closing costs and financing fees.

The borrower purchased Sheraton Suites Galleria-Atlanta in August 2013 and has invested more than $11 million in implementing a property improvement plan to transform the hotel into a state-of-the-art Sheraton, which included renovating guestrooms, corridors and the lobby; adding a Sheraton Club Lounge and Grab-and-Go outlet; and modernizing elevators. Additional planned improvements are upgrading meeting space, building exterior and the food and beverage outlets, The Grill and Martini’s Bar. The hotel, which is part of the Marriott family, also features a fitness center, business center and indoor/outdoor pool. Sheraton Suites Galleria-Atlanta is located at 2844 Cobb Parkway in northwest Atlanta adjacent to the Cumberland Shopping Center, across the street from the Cobb Galleria Convention Centre and across Interstate 285 from the newly-built SunTrust Park, the new home of the Atlanta Braves within The Battery Atlanta, a $1.1-billion mixed-use development.

The HFF debt placement team representing the borrower consisted of senior managing director Danny Kaufman, senior director Jeff Bucaro and directors Nicole Aguiar and Matt Casey.

About Olshan Properties

Olshan Properties is a privately owned real estate firm specializing in the development, acquisition and management of commercial real estate for more than 55 years. Olshan owns and/or manages a diverse portfolio totaling over eight million square feet of retail properties, 14,000 multifamily units, 1,448 hotel rooms and three million square feet of office buildings. The company has amassed a portfolio across 10 states, which includes properties such as the Parkchester residential complex in New York City, the Hilton Marco Island Beach Resort and Spa in Florida, The Akers Mill Square shopping center in Atlanta, and an award-winning Regional Center portfolio.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.