The 124-suite hotel is located at 12505 Innovation Way in the Alpharetta business corridor. Credit: Satori Collective/BusinessWire.

Satori Collective has concluded the sale of Holiday Inn Express & Suites Alpharetta-Windward Parkway in Georgia, US, to Bukhari Group Hospitality.  

Satori in a statement said that the company received a double equity multiple and an internal rate of return of 24% as a result of the sale. 

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Located at 12505 Innovation Way in the Alpharetta business corridor, the property features 124 suites with a range of facilities. 

These include a sleeper sofa and separate seating area, a work zone with a desk and ergonomic chair, ample lighting, and more. 

It also features an outdoor pool, a 24/7 fitness room, a business centre, and a meeting space that can accommodate up to 40 guests.  

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In addition, free high-speed internet access is provided in the public spaces and rooms. 

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Satori Collective CIO Samir Yajnik said: “We purchased this all-suite property in 2013 and quickly conducted a comprehensive, multi-million-dollar, value-add renovation to re-flag the property to a Holiday Inn Express & Suites by IHG.  

“We are proud to have successfully executed our value-add strategy with this investment to generate above market returns for our investors given the challenging capital markets environment at present.” 

Satori Collective co-founder and managing partner Andy Chopra said: “At present, we are diligently pursuing opportunistic and value-added acquisition opportunities. 

“With an eye toward continued future growth, we continuously review our portfolio for opportunities to monetise assets for our investors.”  

Satori Collective, which is based in Atlanta, specialises in hotel property investment. 

Last October, Satori Collective and Aperture Hotels announced the completion of a multi-million-dollar renovation of Homewood Suites by Hilton Atlanta/Perimeter Centre in the US.