Hodges Ward Elliott Finalizes Notable Hotel Sale
Hodges Ward Elliott (HWE) has successfully represented ownership in the sale of the Crowne Plaza and Staybridge Suites in Midtown Atlanta. This property, one of the largest hotels in the area, has a prime location adjacent to major educational institutions, making it a key player in the local hospitality market.
About the Hotel
This prominent hotel rises 25 stories above West Peachtree Street, enhancing the city skyline. The Crowne Plaza and Staybridge Suites feature 462 guest rooms and offer extensive amenities, including 34,600 square feet of meeting and event space across 17 meeting rooms. Guests can also enjoy four dining outlets, a rooftop pool deck, and a top-of-the-line fitness center.
Unique Features and Amenities
A standout feature of the hotel is the 25th-floor SKY meeting space boasting panoramic views of Downtown and Midtown. This exceptional setting is perfect for conferences and events, allowing attendees to experience the vibrancy of the city.
Successful Transaction by HWE Team
The successful sale was facilitated by an experienced team from Hodges Ward Elliott, including Nate Ries, William Hodges, and Michael Tormey. Their combined expertise was instrumental in closing this significant transaction.
Real Estate Landscape and Future Prospects
This sale underscores the dynamic nature of the hospitality real estate market, particularly in areas experiencing robust development. The vicinity continues to draw substantial investment, showcased by initiatives such as the extensive Emory Winship Cancer Institute and Georgia Tech's campus expansion efforts.
Corporate Influence in the Area
This hotel is strategically surrounded by major organizations, providing a backdrop of corporate activity that enhances its appeal for both leisure and business travelers. Renowned companies such as Coca-Cola, Honeywell, and NCR are situated close by, fostering a thriving business atmosphere.
Looking Ahead for the Buyer
The new owners of the Crowne Plaza and Staybridge Suites inherit not only a well-established hotel but also a property that has been central to Atlanta's hospitality scene for over 50 years. HWE expresses optimism regarding the future success of the property under new management.
About Hodges Ward Elliott
Hodges Ward Elliott is recognized as a leader in the boutique real estate capital markets advisory sector. With a multi-disciplined service platform, the company emphasizes hotel investment sales and debt capital markets and boasts offices in several key cities. Over its 50-year history, HWE has managed more than $100 billion in transactions, affirming its reputation for reliability and excellence in the real estate market.
Contact Information
For inquiries, reach out to Lauren Habig at lhabig@hodgeswardelliott.com.
Frequently Asked Questions
What is the significance of the hotel sale?
The sale highlights the important role of Hodges Ward Elliott in the hospitality market and illustrates ongoing investment trends in Atlanta's real estate landscape.
Who represented the seller in the transaction?
The HWE team including Nate Ries, William Hodges, and Michael Tormey were the representatives involved in this transaction.
What amenities are available at the hotel?
The hotel features 462 guest rooms, extensive meeting space, dining outlets, a rooftop pool, and a fitness center.
Why is the hotel's location strategic?
Its proximity to major corporations and educational institutions enhances its attractiveness to travelers and event planners.
What is Hodges Ward Elliott known for?
Hodges Ward Elliott is known for its expertise in hotel investment sales and has a strong portfolio of successful transactions in the real estate market.
