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JV Pays $220M for Alpharetta Hotel
Crescent Real Estate offloaded The Hotel at Avalon, a 330-Key Hotel in Alpharetta. Commercial Search reports that Endeavor Real Estate Group and Cox acquired The Hotel at Avalon for $220 million.
Crescent has owned the since September 2020. The hotel debuted in 2018.
The Hotel at Avalon features guest rooms and suites ranging from 355 to 1,100 square feet. Amenities include a second-floor swimming pool, a fitness center, an on-site restaurant, event venues and three and a half levels of parking with 407 spaces.
The building also includes Alpharetta Conference Center, a 65,000-square-foot corporate venue developed in partnership with the city of Alpharetta. It has 44,000 square feet of flexible meeting space, 18 separate rooms, a ballroom and the capacity to host up to 1,200 people.
The Hotel at Avalon is in the Avalon mixed-use district, a $1 billion, 86-acre walkable neighborhood that comprises roughly 2.3 million square feet of retail, dining, office and entertainment space and more than 600 luxury rental apartments .
- ◦Sale/Acquisition
