RLJ Lodging Trust (NYSE: RLJ) today announced that it is under contract to acquire the fee simple interest in the newly-built, 186-room Hampton Inn & Suites Atlanta Midtown for a purchase price of $58.0 million in cash. Upon stabilization, the Company expects the Hotel to generate an estimated 8.0% to 8.5% NOI yield.
Pellerin Real Estate has acquired the former Ramada Plaza by Wyndham Atlanta Downtown & Conference Center, a prominently-located 375-key full-service hotel in Atlanta’s Summerhill neighborhood.
The Red Lion Airport Hotel Atlanta was held in a joint venture. RLH Corporation will receive $4.8 million in net proceeds after closing costs and the repayment of property level mortgage.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) today announced its acquisition of the former Mandarin Oriental, Atlanta, a 127-room luxury hotel located in the upscale Buckhead area of Atlanta, Georgia, for $53.5 million, or approximately $421,000 per key.
Apple Hospitality REIT, Inc. (NYSE: APLE) today announced that it acquired the 132-room Hampton Inn & Suites by Hilton Atlanta Perimeter Dunwoody for a purchase price of approximately $29.5 million, or $223,000 per key.
Carey Watermark Investors 2 Incorporated (CWI 2) announced that it has acquired the Renaissance Atlanta Midtown Hotel. The 21-story, full-service property includes 304 guestrooms and is located in the diverse and growing Midtown submarket of Atlanta, Georgia.
Condor Hospitality Trust, Inc. (NASDAQ: CDOR) today announced that it has entered into a joint venture agreement with Three Wall Capital to acquire the 254 room Aloft Atlanta located in downtown Atlanta at 300 Spring St NW, Atlanta, GA 30308.
Apple Hospitality REIT, Inc. (NYSE:APLE) today announced that it has closed on the previously announced acquisition of a 128-room Home2 Suites by Hilton in Atlanta, GA for a purchase price of $24.6 million, or approximately $192,000 per key.