{"id":1004121962,"date":"2015-06-24T08:07:55","date_gmt":"2015-06-24T16:07:55","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=353115"},"modified":"2022-12-13T00:04:23","modified_gmt":"2022-12-13T08:04:23","slug":"downtown-atlanta-hotel-sells-well-under-replacement-cost","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/downtown-atlanta-hotel-sells-well-under-replacement-cost\/","title":{"rendered":"Downtown Atlanta Hotel Sells Well Under Replacement Cost"},"content":{"rendered":"

A\"W<\/a> real estate investment trust focused on the hospitality sector has signed a definitive agreement to buy a recently built hotel in downtown Atlanta.<\/p>\n

The purchase price Ashford Hospitality Trust paid for the 237-key W Atlanta Downtown is $56.8 million. The company intends to finance the acquisition with approximately $45.4 million of non-recourse mortgage debt.<\/p>\n

The hotel, which features more than 9,000 square feet of meeting space, is part of the Allen Plaza Complex, a $2 billion mixed-use development featuring luxury condominiums and prime office space. Post-closing, W Atlanta Downtown will continue to be managed by Starwood Hotels.<\/p>\n

Ashford Trust announced that the purchase price represents an approximately 40 percent discount to the replacement cost, a trailing 12-month cap rate of 6.4 percent and a trailing 13.1x EBITDA multiple.\u00a0 In the past 12 months, the hotel achieved RevPAR of $147.97, with occupancy of 73.2 percent and an Average Daily Rate of $202.24.<\/p>\n

Headquartered in Dallas, Texas, Ashford Hospitality Trust focuses on investing in the hospitality industry across all segments and at all levels of the capital structure primarily within the United States. The REIT currently owns 12 hotels in Georgia, mainly represented by the Hilton and Marriott brands. W Atlanta Downtown marks the company\u2019s first Starwood hotel in the state.<\/p>\n

Photo credits: Starwood Hotels & Resorts Worldwide Inc.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A real estate investment trust focused on the hospitality sector has announced that it has signed a definitive agreement to buy a recently built hotel in Downtown Atlanta.<\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21742],"tags":[39387,1815],"class_list":["post-1004121962","post","type-post","status-publish","format-standard","hentry","category-atlanta","category-latest","tag-atlanta","tag-national"],"acf":[],"yoast_head":"\nDowntown Atlanta Hotel Sells Well Under Replacement Cost - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/downtown-atlanta-hotel-sells-well-under-replacement-cost\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Downtown Atlanta Hotel Sells Well Under Replacement Cost\" \/>\n<meta property=\"og:description\" content=\"A real estate investment trust focused on the hospitality sector has announced that it has signed a definitive agreement to buy a recently built hotel in Downtown Atlanta.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/downtown-atlanta-hotel-sells-well-under-replacement-cost\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-06-24T16:07:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-13T08:04:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/W-Atlanta-Downtown-hotel-exterior.jpg\" \/>\n<meta name=\"author\" content=\"Balazs Szekely\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-hotel-sells-well-under-replacement-cost\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-hotel-sells-well-under-replacement-cost\\\/\"},\"author\":{\"name\":\"Balazs Szekely\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/623e95293ca6c6791bedc7473f548d7f\"},\"headline\":\"Downtown Atlanta Hotel Sells Well Under Replacement Cost\",\"datePublished\":\"2015-06-24T16:07:55+00:00\",\"dateModified\":\"2022-12-13T08:04:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-hotel-sells-well-under-replacement-cost\\\/\"},\"wordCount\":216,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-hotel-sells-well-under-replacement-cost\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/W-Atlanta-Downtown-hotel-exterior.jpg\",\"keywords\":[\"Atlanta\",\"National\"],\"articleSection\":[\"Atlanta\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-hotel-sells-well-under-replacement-cost\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-hotel-sells-well-under-replacement-cost\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-hotel-sells-well-under-replacement-cost\\\/\",\"name\":\"Downtown Atlanta Hotel Sells Well Under Replacement Cost - 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