Six Major Atlanta Hotels Hit the Market
Wanna own a hotel? Chances are there's one in Atlanta for sale as a slew of high-profile accommodations hit the block.
The list of Atlanta hotels up for grabs includes the 1,200-room Hilton Atlanta, which could command up to $200M. The hotel is being marketed by Plasencia Group for the owner, a JV between Westmont Hospitality and Ivanhoe Cambridge, reports Real Estate Alert. Other hotels on the market: two W Hotels, the W Atlanta-Midtown, owned in a JV between AEW Capital and Noble Investment, and W Atlanta-Downtown, a 237-room hotel that also has condos and is owned by Square Mile Capital.
And you can add Novare to that list of sellers. The multifamily developer, headed by Jim Borders (here), has also put the 102-room Twelve Hotel Centennial Park and the 101-room Twelve Hotel Atlantic Station on the market with Hodges Ward Elliott. And finally, Real Estate Alert reports there's an unidentified buyer under contract with Renaissance Concourse Atlanta Airport Hotel, a 387-room full-service hotel near the airport owned in a JV between Clearview Hotel Capital and Oaktree Capital. The price is reported to be some $53M, or $137k/room, with Eastdil marketing. [REAlert]
