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JLL arranges sale of the Westin Atlanta Airport hotel
Atlanta's lodging market performance is growing at one of the fastest rates in the country and continues to attract hotel investors. Just weeks after announcing the sale of the Sheraton hotel in downtown Atlanta, JLL today announced it arranged the sale of the Westin Atlanta Airport hotel on behalf of Thayer Lodging Group. Columbia Sussex purchased the 500-key property in the Atlanta Airport submarket.
Managing Director Robert Webster, Executive Vice President Tim Southard and Vice President John Harper led the JLL team on the transaction.
"The hotel's location near the busiest airport in the world and premier brand affiliation attracted a number of investors," said Webster. "Atlanta's lodging market is thriving, and hotels in the city's Airport submarket have performed particularly well over the past few years."
The Westin Atlanta Airport hotel has three food and beverage outlets, 23,500 square feet of meeting space, a fitness center and one indoor and one outdoor swimming pool. The hotel is located next to the Hartsfield-Jackson International Airport and near the Georgia International Convention Center.
JLL's Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $77.5 billion worldwide. Between negotiating property deals, the group's 350-person global team also closed more than 5,300 advisory, valuation and asset management assignments. To find out more visit: www.jll.com/hospitality
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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