Lowe Enterprises Investors acquired a three-property, 370-room Hilton Garden Inn portfolio in Atlanta on behalf of an investment client. The portfolio consists of the 123-room Hilton Garden Inn - Atlanta NW Wildwood, the 125-room Hilton Garden Inn - Atlanta Northpoint and the 122-room Hilton Garden Inn - Atlanta North Johns Creek. LEI plans to upgrade guestrooms at all of the properties including modernizing the bathrooms, furnishings and décor. All hotel lobbies were recently renovated.
“The Atlanta market continues to strengthen and grow, with much of the activity focused north of the city where these hotels are located,” said Bleecker P. Seaman, co-CEO of LEI. “These properties are positioned to benefit from that growth.”
Chris Miller and Russell Munn led the investment team for Lowe Enterprises Investors. Eastdil Secured represented the seller, Southern States Hospitality. Atlanta-based Southern States Management will continue to operate the properties. BB&T provided financing for the transaction.
Johns Creek is home to 77,000 residents. More than 10,000 people are employed by businesses in the Technology Park at Johns Creek which includes State Farm Insurance, Ebix, Bomgar, Teradata, Emory Johns Creek Hospital and Life Time Fitness.