On behalf of Ivanhoe Cambridge, JLL’s Hotels & Hospitality experts announced the firm has arranged the sale of the Hilton Atlanta, a 1,242-room convention hotel located in downtown Atlanta. A major U.S institutional real estate investor purchased the property. JLL also secured acquisition financing with Starwood Property Trust providing the loan.
Managing Director Robert Webster, Executive Vice President Tim Southard and Vice President John Harper led the JLL team on the transaction while Executive Vice President Bill Grice led the financing effort.
“Atlanta’s strong macro-economic fundamentals are driving revenue per available room (RevPAR) growth that is outpacing the national average and attracting institutional investors to the market,” said Webster. “The Hilton Atlanta is well positioned to benefit from these trends.”
Added Grice, “Atlanta’s positive supply/demand fundamentals, the city’s growing notoriety as a top corporate hub, combined with the quality of the hotel and world-class sponsorship made this opportunity very compelling to lenders.”
The 30-story Hilton Atlanta Downtown is located near 35 million square feet of office space, Hartsfield-Jackson International Airport, universities, sports arenas and recreational attractions. The hotel features 136,000 square feet of meeting space and five food and beverage outlets, including the award winning Nikolai’s Roof and Trader Vic’s.