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ATLANTA — Clermont Hotel Partners LLC has purchased The Clermont Hotel, located at 789 Ponce de Leon Ave. in the Virginia Highlands submarket of Atlanta, with plans to redevelop the property as a boutique hotel. The historic building was built in the 1920s as apartments and converted to a hotel in the 1940s. The Clermont Hotel includes an iconic club on the ground level, which has been in operation for nearly 50 years. The hotel has been shut down since Dec. 31, 2009. Jake Reid of Franklin Street Real Estate Services represented the seller, Fairway Capital, in the transaction. The buyer is an affiliate of Nashville, N.Y.-based BNA Associates LLC.