Hodges Ward Elliott represented an institutional seller in the sale of the dual-branded Crowne Plaza/Staybridge Suites in Midtown Atlanta. Other terms and conditions were not disclosed.
An HWE team composed of Nate Ries, William Hodges and Michael Tormey represented the seller in the transaction.
Rising 25 stories above West Peachtree Street and visible from the Downtown Connector, the property is one of Atlanta's 15 largest hotels and a fixture of the city's skyline. The hotel has 462 guestrooms, 34,600-square-feet of meeting and event space across 17 meeting rooms, four dining outlets, a rooftop pool deck and a fitness center. The 25th-floor SKY meeting space provides views of Downtown, Midtown and Georgia Tech's campus.
"We are pleased to have facilitated the sale of one of Atlanta's largest and most recognizable hotels," Ries said in a statement. "We appreciate the confidence the seller placed in our team to execute this important transaction."
"For over 50 years, this hotel has been a key part of Atlanta's hospitality landscape, and we look forward to the buyer's future success with the property," said Tormey.
Positioned adjacent to Georgia Tech and Emory University Hospital Midtown, the hotel is surrounded by major corporate presences including Coca-Cola, Honeywell and NCR VOYIX/Atleos. The area continues to experience record investment and development, highlighted by the new $500 million Emory Winship Cancer Institute and Georgia Tech's ongoing campus expansion.