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Ashford Acquires W Atlanta Downtown for $56.8 Million

Ashford Acquires W Atlanta Downtown for $56.8 Million

Ashford Hospitality Trust has completed the previously-announced acquisition of the 237-room W Atlanta Downtown hotel for total consideration of $56.8 million ($239,000 per key). The purchase price represents an estimated forward 12-month cap rate of 7.2 percent on net operating ...

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AC Hotels by Marriott to Arrive at Phipps Plaza

AC Hotels by Marriott to Arrive at Phipps Plaza

ATLANTA—Simon and Noble Investment Group today announced a joint venture which will bring the AC Hotels by Marriott brand to Phipps Plaza, an upscale shopping destination in Atlanta’s Buckhead district. Inspired by the runways and fashion houses of Milan, AC ...

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RLJ Lodging Trust Acquires Hyatt Atlanta Midtown

RLJ Lodging Trust Acquires Hyatt Atlanta Midtown

BETHESDA, Md.—RLJ Lodging Trust today announced that it has acquired the 194-room Hyatt Atlanta Midtown located in Atlanta, Ga., for a purchase price of $49.5 million, or approximately $255,000 per key. The purchase price represents a forward capitalization rate of ...

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Adaptive Reuse Project in Atlanta to Include Hotel Indigo

Adaptive Reuse Project in Atlanta to Include Hotel Indigo

ATLANTA–Portman Holdings has purchased a 414,768-square-foot office tower in downtown Atlanta. The 50-year-old building was first developed as an office building by Portman in 1965 as part of the Peachtree Center mixed-use development. Renovation will commence immediately to convert the ...

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SoTHERLY Hotels Acquires Georgian Terrace Hotel

SoTHERLY Hotels Acquires Georgian Terrace Hotel

WILLIAMSBURG, Va.—SoTHERLY Hotels Inc. has acquired the Georgian Terrace Hotel, an adjacent 698-space parking structure, and a 0.6 acre development parcel for $61 million. The 326-room independent, full-service hotel is located in Atlanta, Ga.’s revitalized Midtown business district. The hotel ...

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