EINPresswire/ -- University Place Asset Management (“UPLAM”) has provided a $67.5 million loan to Axonic Capital, LLC and Monomoy Property Ventures for the acquisition of a 462-key hotel and convention center located at 590 West Peachtree Street NW. Currently operating as a Crown Plaza by IHG, once acquired by the two sponsors it will be transformed, through full-scale renovation, into the Marriott Atlanta.

“We saw this as an opportunity to work with solid investors and operators, including Axonic Capital, whom we recently worked with on another project,” says Mark Moskowitz, UPLAM
Co-Founder & President. “Axonic and Monomoy acquired the asset at a particularly attractive basis, and we are glad to have tailored a financing solution to meet their requirements to transform the property to a full-service Marriott. “

A comprehensive renovation is already planned and upon completion, the property will feature 360 standard guestrooms, 102 suites and 35,000 square feet of meeting and convention space. Moreover, the property will become the only core-branded Marriott in Atlanta’s central business district.

Nick Scribani, Vice Chairman of Newmark Capital Markets, arranged the financing.
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About University Place Asset Management
University Place Asset Management (“UPLAM”) is a forward-thinking global investment firm specializing in alternative investments across real estate, credit, and private equity. The firm takes an opportunistic, value-driven, and disciplined approach to investing—refined through decades of experience. UPLAM’s current portfolio includes 50+ investments spanning multiple asset classes, with a total portfolio valuation exceeding $2.1 billion. For more information about UPLAM, please visit

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