ATLANTA, Georgia—JLL’s Hotels & Hospitality Group announced that it arranged the sale of the Home2 Suites by Hilton Avalon, located in Alpharetta, Georgia. JLL worked on behalf of the seller, Ram Hotels.
The 107-room hotel, located off State Route 400 and within walking distance of Avalon, a mixed-use development with over 570,000 square feet of retail space and 26 restaurants, which has garnered interest from investors. The Home2 Suites’ location is in a high barrier-to-entry market, given that the city of Alpharetta no longer permits the construction of extended-stay or select-service properties.
The JLL Capital Markets team was led by Vice President Steve Leslie and Managing Director Chris Dewey.
The Home2 Suites by Hilton Avalon’s location also provides access to several other developments in the area, such as the Northpoint Mall redevelopment, Continuum, Lakeview Park, and Northwinds Summit. These developments are expected to drive corporate and leisure demand, as well as an influx of residents into the city.
