Davidson Hotels & Resorts added the 341-room Atlanta Marriott Perimeter Center to its portfolio. Integrated Capital, a private real estate advisory and investment firm which acquired or developed assets with a total capitalization of more than $500 million since its founding in 2004, is the new owner.
The 16-story Atlanta Marriott Perimeter Center, originally built in 1976, has been completely reimagined through $23 million in recent renovations. Integrated Capital will make an additional investment in the property, including a full exterior modernization.
“With the current acceleration of the Perimeter area, we’re excited to be managing a hotel in the new epicenter of the city, proximate to the U.S. headquarters or regional super-campuses for Mercedes-Benz, State Farm Insurance, Newell Rubbermaid, First Data, Cox Enterprises and UPS, just to name a few,” said John Belden, president and CEO of Davidson. “Exercising the perfect blend of institutional discipline and entrepreneurial savvy, Integrated Capital will leverage Davidson’s local knowledge and Marriott’s renowned demand distribution systems in creating an exciting new chapter for the Perimeter Center hotel. Through the Marriott/Starwood combination, over one-third of our portfolio now resides under the Marriott umbrella of brands, including two with Integrated Capital.”
“As we continue to expand our hospitality assets, the Perimeter Center hotel presents a great opportunity to reposition a well-located property and significantly enhance the business by making dramatic improvements in the guest experience,” said Kenneth Fearn, managing partner for Integrated Capital. “Davidson has an exemplary record of success in the full-service, upper-upscale and near-luxury segments, and we trust they will maximize our asset value in the Marriott through their relentless pursuit of quality.”
Capitalizing on the trend of communal living, the hotel has a southern-inspired Greatroom, offering a setting for work, play or entertainment. The hotel also offers over 18,000 square feet of meeting and event space, an indoor/outdoor pool, fitness center and the Twisted Oak Restaurant.