HREC Investment Advisors arranged the sale of the 148-room Hampton Inn Atlanta Peachtree Corners located in Norcross, Ga. The property was acquired by an affiliate of McNeill Hotels, and will be managed and operated by McNeill Hotel Company.
Monty Levy, SVP in HREC Investment Advisors’ Atlanta office, and Scott Stephens, COO and senior principal, exclusively represented the seller, an affiliate of locally-based Paramount Hospitality, on this transaction.
”This was our first engagement on behalf of Paramount and we’re delighted to have structured such a successful exit for them in the sale of this fine asset,” Levy said. “We are also very appreciative of the efforts of the McNeill team in smoothly and successfully closing on this acquisition, and given the quality of the asset and brand coupled with the robust demand growth occurring in the Peachtree Corners submarket of Atlanta we have no doubt it will be a very successful investment for them.”
The Hampton Inn Atlanta Peachtree Corners Norcross is located in the Atlanta suburb of Norcross. The property is situated near several major roadways such as Interstate 85, Interstate 285 and Jimmy Carter Blvd. I-85 is a major interstate highway located in the southeastern US and stretches from Petersburg, Va., to Montgomery, Ala. The property’s location allows for access to Atlanta’s Central Perimeter, Buckhead, Midtown and Downtown submarkets.