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Arden Group Acquires Sheraton Atlanta Hotel for $64.2M

Arden Group is planning an additional $7 million of renovations for the Sheraton Atlanta Hotel, a 763-room hotel located at 165 Courtland St. N.E. in downtown Atlanta.

Arden Group is planning an additional $7 million of renovations for the Sheraton Atlanta Hotel, a 763-room hotel located at 165 Courtland St. N.E. in downtown Atlanta.

ATLANTA — Arden Group has purchased the Sheraton Atlanta Hotel, a 763-room hotel located at 165 Courtland St. N.E. in downtown Atlanta. The Philadelphia-based investment firm purchased the hotel through its discretionary fund affiliate, Arden Real Estate Partners II LP, for $64.2 million, according to the Atlanta Business Chronicle. JLL represented the sellers, affiliates of Amerimar Enterprises and Contrarian Capital, in the transaction. The previous ownership group wrapped up a $15 million renovation of the hotel last year. Arden Group is planning an additional $7 million of renovations for the hotel’s guest rooms, lobby, meeting rooms and the Collage restaurant. Arden Group and HEI Hotels & Resorts will co-manage the hotel.

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