Crescent Successfully Sells The Hotel at Avalon in Alpharetta
Crescent Real Estate LLC has announced the successful sale of The Hotel at Avalon, a luxury hotel located within the mixed-use development in Alpharetta. Acquired by Crescent in September 2020 during the height of the pandemic's impact on hospitality markets, the property was viewed as an irreplaceable asset due to its prime location and role as the anchor of Avalon’s ecosystem. The hotel opened in 2018 and has consistently performed well within a thriving live-work-play environment. Crescent attributed the successful disposition to disciplined underwriting, strong execution by their team, and HEI Hotels & Resorts' stewardship during ownership. The sale is seen as one of the most notable transactions in Atlanta's hospitality market recently. Crescent highlighted its strategy of identifying high-quality opportunities amid market dislocation and creating value through active asset management. This transaction reflects Crescent’s broader investment approach across multiple real estate sectors, with a focus on long-term growth.
Topics: hospitality investment mixed-use development real estate