{"id":1004033823,"date":"2011-11-02T05:06:48","date_gmt":"2011-11-02T13:06:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004033823"},"modified":"2022-12-08T03:43:52","modified_gmt":"2022-12-08T11:43:52","slug":"clearview-oaktree-purchase-387-room-renaissance-atlanta-airport-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/clearview-oaktree-purchase-387-room-renaissance-atlanta-airport-hotel\/","title":{"rendered":"Clearview, Oaktree Purchase 387-Room Renaissance Atlanta Airport Hotel"},"content":{"rendered":"<p><strong>November 2, 2011<\/strong><br \/>\n<em>By Nicholas Ziegler, News Editor<\/em><br \/>\n<a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/110211-Renaissance-Concourse-Hotel-Night-792px.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004033824\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/clearview-oaktree-purchase-387-room-renaissance-atlanta-airport-hotel\/holiday-exterior-2007\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/110211-Renaissance-Concourse-Hotel-Night-792px.jpg\" data-orig-size=\"653,436\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Color and Magic, Inc.&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;Color and Magic, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Holiday Exterior 2007&quot;}\" data-image-title=\"Holiday Exterior 2007\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/110211-Renaissance-Concourse-Hotel-Night-792px.jpg?w=653\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/110211-Renaissance-Concourse-Hotel-Night-792px.jpg\" alt=\"\" title=\"Holiday Exterior 2007\" width=\"300\" height=\"200\" class=\"alignright size-medium wp-image-1004033824\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/110211-Renaissance-Concourse-Hotel-Night-792px.jpg 653w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/110211-Renaissance-Concourse-Hotel-Night-792px.jpg?resize=300,200 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Hotels are selling at a brisk pace lately. Within the last month, <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/southeast\/crowne-plaza-tampa-east-purchased-by-interstate-hotels-2\/\">Interstate Hotels &amp; Resorts picked up the Crowne Plaza Tama East<\/a>, a <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/west\/lasalle-hotel-properties-purchases-villa-florence-in-san-francisco-for-67-2m\/\">boutique San Francisco property was purchased for $67.2 million<\/a> and the $1 billion, 64-location deal between Innkeepers USA and a joint venture of Cerberus Series Four Holdings L.L.C. and Chatham Lodging Trust <a href=\"https:\/\/www.commercialsearch.com\/news\/property-types\/hospitality\/1b-innkeepers-portfolio-sale-deal-back-on-track\/\">was declared back on<\/a>.<\/p>\n<p>The next deal in line takes us to Atlanta, where an investment group consisting of Clearview Hotel Capital and a real estate fund managed by Oaktree Capital Management L.P. have picked up the 387-room Renaissance Concourse Atlanta Airport Hotel. Cushman &amp; Wakefield Sonnenblick Goldman\u2019s hospitality group arranged the transaction.<\/p>\n<p>The Renaissance is located at One Hartsfield Centre Parkway and is situated along Interstates 75 and 85. The property features approximately 37,400 square feet of meeting space, including an 11,000-square-foot ballroom.<\/p>\n<p>Tom McConnell, co-head of Cushman\u2019s global hospitality group, noted that the city was ripe for such an investment. \u201cAtlanta has been hit with a decent amount of new supply throughout every submarket,\u201d he told <em>Commercial Property Executive<\/em>. \u201cWe see better compression throughout the market in 2012 resulting in occupancy gains, as well as rate improvement.\u201d<\/p>\n<p>A report by PKF Hospitality Research shows that, based on September 2011 projections, the average hotel in the United States will be able to increase total revenue by 7.4 percent for the entire year, making hotel investments more attractive. According to the research firm, the revenue growth will come through \u201ca relatively equal contribution of increases in occupancy and ADR.\u201d<\/p>\n<p>\u201cThe Renaissance is the premier full-service hotel in one of the largest and most trafficked airport markets in the world,\u201d McConnell continued. \u201cThe strong base level of occupancy at the hotel coupled with the high quality of the real estate made for an attractive investment opportunity and will be an excellent long-term hold for the purchaser.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An investment group consisting of Clearview Hotel Capital and a real estate fund managed by Oaktree Capital Management L.P. has picked up the 387-room Renaissance Concourse Atlanta Airport Hotel.<\/p>\n","protected":false},"author":1201,"featured_media":1004033824,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21751,21742],"tags":[],"class_list":["post-1004033823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-hotel","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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