Paramount Lodging Advisors advises on sale of Residence Inn Perimeter Center in Atlanta for $9M

Paramount Lodging Advisors advised on the sale of the Residence Inn by Marriott Perimeter Center in Atlanta for just over $9 million. The 128-room exterior-corridor hotel was built in 1986 and will, reportedly, be repositioned by the buyer. Moody National REIT sold the hotel to a third-party buyer 6096 Barfield Road LLC. "When we looked at the offer, we saw it was returning over 130 percent of our equity and over north of a 15 percent internal rate of return," said Brett Moody, chairman and CEO of Moody National Cos. "Given the other opportunities we're targeting, we decided to proceed with the sale, so we could deploy capital into those other opportunities." Moody National bought the hotel in 2010 for $7.3 million.

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