August 8, 2024

The soon-to-open accommodations feature a lush courtyard, an all-day restaurant, and plenty of Spanish Colonial charm.

Standing out against a sea of high rises with its creamy stucco and red-tiled roof, the Hotel Granada is set to open later this month in Midtown Atlanta. In a city with an ever-evolving skyline, the property breathes new life into a century-old architectural gem.

August 12, 2024

Hotel Granada, the meticulously restored historic gem at 1302 W. Peachtree St NW in the heart of Atlanta’s Midtown neighborhood, officially opens its doors today after a two-year top-to-bottom restoration and modernization. Just steps from world-renowned museums, the lush greenspaces of Piedmont Park, prestigious universities like SCAD Atlanta and Georgia Tech and a bustling business district, the 100-year-old property offers a sophisticated respite for all who enter through its Spanish colonial archways.

August 12, 2024

More than 100 years ago, socialites are said to have congregated at the Granada Apartments in Midtown, where a Spanish-Colonial vibe provided a haven from the hustle and bustle of the city. Scarp Ridge Capital Partners and the Aparium Hotel Group are reviving this feeling with the opening of Hotel Granada, a 120-room boutique hotel with an all-day restaurant, elevated cocktail lounge, and an open-air courtyard.

August 16, 2024

Others may have scraped the block for the next glass skyscraper. But, New York-based developer Greg Rush saw the potential to revive the property. Now, it's known as Hotel Granada, a 120-room independent hotel one block from Woodruff Arts Center, the heart of Midtown's arts and entertainment district.

February 14, 2024

JLL Capital Markets led sales effort for a partnership of two institutional clients

By Tim Mullaney | July 22, 2021

A new firm led by senior living industry veterans, Scarp Ridge Capital Partners, is launching with a $300 million fund targeting value-add, opportunistic and distressed investment opportunities.

“Scarp Ridge will look to leverage our many years of investing experience and industry relationships to be the partner of choice to owners, lenders, sponsors, and developers by acquiring, recapitalizing or restructuring deals to preserve and enhance long-term value,” Rick Shamberg, a founder and managing director of Scarp Ridge, wrote Thursday in an email announcing the new venture.

While also targeting hospitality, the firm is focused primarily on senior housing, including independent living, assisted living and memory care. Scarp Ridge is targeting equity commitments of $10 million to $50 million.

Scarp Ridge’s strategy includes acquisitions that can be made below replacement cost, with value-add potential through capital expenditures, rebranding, new management or other strategies.

Scarp Ridge is also open to providing runway capital to existing owners, and may acquire non-performing loans and create structured financing involving debt, mezzanine products and preferred equity.

Real Estate Alert | July 14, 2021

Newly formed fund shop Scarp Ridge Capital Partners is looking to buy $900 million of hotels and senior-housing properties over the next several years.

Managing partner Greg Rush founded the New York firm in April. He since has hired acquisitions veterans Kari Schmidt and Rick Shamberg. And in the past few weeks, the shop closed on a $300 million equity pledge from an unidentified family office.

The new vehicle, Scarp Ridge Real Capital Partners, will invest $20 million to $50 million of equity per deal. It can buy properties or partial interests, and can provide owners or operators with senior debt, mezzanine debt or preferred equity.

The vehicle will target a mid-to high-teens return by focusing on distressed assets. The thesis is that by acquiring properties at discounts to replacement cost, Scarp Ridge can add value through swapping hotel flags, capital improvements and/or better management. In some cases, simply recapitalizing a property may provide existing owners or operators runway capital, allowing them to navigate through the downturn.

For hotels, a space drawing increased interest from investors across the board, the shop is focused on markets with strong long-term demand drivers. It will look nationally at branded and independent hotels, as well as across chain-scale segments and it will partner with operators to run the properties.