Atlanta, GA – November 1, 2017 – Hodges Ward Elliott (“HWE”), the world’s leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, is announcing they represented NAME in its recent sale of The Westin Atlanta Perimeter North, a recently renovated 372-room hotel located in Atlanta, Georgia to Crescent Real Estate LLC (Crescent).
In addition, HWE also arranged the financing of the acquisition for Crescent.
Hodges Ward Elliott President Mark Elliott and Director Michael DiPrima represented the seller in the transaction and Managing Director and Head of Capital Markets, Lawrence Britvan, advised the buyer on the financing.
“We are pleased to have advised both the seller and the buyer in this transaction,” said NAME, Hodges Ward Elliott. “The seller came to us because of our unparalleled hospitality brokerage experience and strong knowledge of the Atlanta region. Once we began marketing the property, we were able to quickly identify a buyer that recognized the long-term value of this investment and helped them secure a favorable financing package to finalize this acquisition and maximize the value of this high-quality hospitality asset.”
The Westin Atlanta Perimeter North, one of largest hotels outside of downtown Atlanta, is located on 6.25 acres in north Atlanta’s Central Perimeter submarket. It’s also the only hotel located next to the Concourse Corporate center, a 2.2 million-square-foot Class A office complex that includes the market’s familiar “King and Queen” office towers.
The property offers more than 20,000 square feet of meeting space, including an 8,000-square-foot ballroom, as well as the SAVOR bar & kitchen, a farm-to-table eatery. Additional amenities at the hotel include a new Westin Executive Club, a 24-hour business center, its own WestinWORKOUT fitness studio, in-room spa treatment and outdoor pool.