This Week's Atlanta Deal Sheet: Huge Atlanta Convention Hotel Sells In Foreclosure
One of Atlanta’s largest hotels has been sold off in a foreclosure auction.
Honolulu-based Trinity Investments won the bid at a public auction to acquire The Hilton Atlanta for $191M, the Atlanta Business Chronicle reported. New York-based Axonic Capital foreclosed on a $218.8M loan in February, with the sale occurring on March 4, according to the original foreclosure notice.
Haberhill LLC and Apollo Global Real Estate Management purchased the 1,249-room convention hotel — the longtime host of the annual Dragon Con — in 2015 for $118.8M, according to Fulton County records. In 2019, the investors obtained the loan from Barclays Capital Real Estate, which sold the loan to Axonic in 2021, according to the ABC.
The Hilton Atlanta is part of a trio of downtown convention hotels, each connected by a sky bridge, including the Marriott Marquis and the Hyatt Regency.
Axonic originated a new $193.6M loan that matures in January 2026 to Trinity for its purchase of the hotel, the ABC reported. A spokesperson for Hilton told the paper that it was “business as usual” and would continue to operate the hotel under the Hilton banner despite the foreclosure and ownership change.
SALES
The Atlantic Pacific Cos., through its affiliate Blue Atlantic Partners, purchased Canterbury Ridge Apartments, a 212-unit garden-style apartment complex in Cherokee County. The price was undisclosed.
The previous owner was an LLC attached to Minnesota-based Dominium Apartments, according to Cherokee County records. The county valued the apartment complex, which has been renamed The Atlantic Canton Ridge, at $23.3M in 2024.
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Ackerman & Co. sold a 103K SF warehouse at 134 Janus International Blvd. in Temple, Georgia, for an undisclosed sum. Meniscus Group purchased the facility, which is fully leased to steel rollup door manufacturer Janus International Group.
Ackerman bought the building in 2021 for $6.7M, and its appraised value was $7M last year, according to Carroll County records. JLL’s Jim Freeman, Dennis Mitchell, Britton Burdette and Maggie Dominguez brokered the sale.
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Atlanta-based Jamestown acquired a minority interest in Inman Quarter, a 208K SF mixed-use apartment complex in the Inman Park neighborhood. The deal puts Jamestown in a joint venture with Inman Quarter’s longtime owner, TriBridge Residential.
Details of the deal were undisclosed, but TriBridge had a $56M loan from State Farm Life Insurance Co. set to mature in June, according to data in the Reonomy database. Inman Quarter includes 200 residential units, 40K SF of retail — with such tenants as MF Sushi, Little Spirit and Beetlecat — and a 515-space parking deck.
PERSONNEL
Maggie Dominguez has joined JLL’s capital markets team as managing director, focused on industrial investment sales on the team with Burdette, Mitchell and Freeman. Dominguez previously worked with Northmarq, closing more than $1B in transactions with the Minnesota-based brokerage firm.
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Sandra Kim-Suk, formerly the chief investment officer at New York-based investment firm Engine No. 1, has joined the Atlanta-based multifamily company Cortland as its new chief financial officer, reporting directly to CEO Steven DeFrancis. Kim-Suk will also be a member of Cortland’s executive committee and will lead a team of 140 finance and accounting professionals in the U.S. and UK.
Cortland also named Michelle Johnstone as executive vice president of client relations and capital markets and Chelsea Holder as head of investor relations.
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Los Angeles-based real estate capital advisory firm George Smith Partners tapped Nate Weyer as a senior managing director for its new Metro Atlanta office in Alpharetta. Weyer is a 25-year CRE capital markets veteran who previously served as managing director at Franklin Street, according to his LinkedIn profile. GSP’s Alpharetta location is part of an effort to expand to new markets in the U.S.
LEASES
SR-400 Constructors — a partnership between Flatiron Dragados and Acciona — leased 50K SF at 800 Parc Point, a three-story, 156K SF office building in Alpharetta. SR-400 Constructors is leading the efforts to add tolled express lanes on a 16-mile stretch of Georgia Highway 400 between Sandy Springs and Alpharetta.
Colliers’ Andrew Waguespack and Grace Holliman represented the firm, while Normandy Partners' Jim Caswell and J.B. Gay brokered the deal for the landlord, The Simpson Organization.
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Coffee purveyor 7 Brew struck a 15-year deal for nearly an acre at Oakwood, a 10-acre retail property being developed by Halpern Enterprises in Flowery Branch. The Arkansas-based drive-thru coffee chain will open next to an existing Chick-fil-A and Whataburger off Highway 53 near Interstate 985. Westbrook Real Estate’s Brad Westbrook represented 7 Brew.
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Formula 1-themed entertainment venue F1 Arcade inked a 15K SF lease at The Intertlock in West Midtown. F1 provides interactive race car simulators and dining. The deal brings Interlock’s retail portion to 99% leased.
The Shopping Center Group’s Drew Lewis represented The Interlock’s landlord, Armada Hoffler, while Emerging Concepts’ Robert Johnson brokered the deal for F1 Arcade.
