City: Sandy Springs

The Washington, D.C., REIT bought the 50-year-old property from Spyglass Capital Partners, which had acquired it in 2014 for $34.1 million. Carlyle of Sandy Springs is encumbered by a $24.61 million senior loan that's securitized through FREMF, 2015-K44. The loan ...

Wells Fargo Bank provided a $72.5 million Freddie Mac loan against the property, replacing $52 million of debt that's securitized through FREMF, 2017-K36.

The deal includes the assumption of an existing loan against the property that State Farm Insurance Co. had provided.

The Carey Watermark venture had invested some $14 million on upgrades to the property. Carey Watermark, a non-traded REIT sponsored by W.P. Carey & Co. and Watermark Capital Partners, held a 57 percent stake in the venture. The hotel includes ...