Carey Watermark Investors 2, a real estate investment trust with a focus on hospitality real estate, purchased the Renaissance Atlanta Midtown Hotel.
The 304-room, 21-story hotel is located at the northwest corner of Peachtree Street and Abercrombie Place in Atlanta's midtown district. The seller and sales price of the property were not disclosed at the time of the sale. Affiliates of W.P. Carey and Watermark capital Partners advised Carey Watermark Investors 2 on the sale, and manage its overall portfolio.
Davidson Hotels & Resorts, a hotel management company based out of Atlanta, will manage the property. Davidson currently operates 38 hotels throughout the U.S.
The property was built in 2009, and was converted to Marriott International's Renaissance brand in 2011. Since then, the property has undergone more than $3 million in updates over a period between 2011 and 2015. Most recently the hotel's restaurant, Community Smith, re-opened January 2015.
Other hotel amenities on offer include 8,600 square feet of meeting space, a rooftop bar and lounge, a 24-hour spa, a fitness center and a business center. The hotel's lobby includes a fireplace and a 442-gallon floating salt water aquarium. The property also offers private cabanas with fire pits. The hotel also provides personalized concierge services through the Renaissance Navigator program, helping guests understand the local area.