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Capri Capital Partners Restructures Ownership in W Atlanta Hotel with Barry Real Estate
Restructuring avoids foreclosure sale of downtown hotel
By: Blitz Group LLC/Jeff Fisher
Under the new agreement, Capri assumes the primary ownership interest of the 28-story mixed-use hotel and condo property that opened in 2009. Barry will continue to have active involvement in aspects of the project.
“We are very pleased with the successful restructuring, solidifying the ownership of the property and avoiding a foreclosure sale,” said Martin G. Alston, Capri Partner/Chief Administrative Officer. “Capri looks forward to working with Barry to realize the full value of this first-class downtown property.”
“Over the long-term, Atlanta's diverse economic base, business-friendly environment and population growth will allow it to achieve above-average growth in lodging performance,”
The W Atlanta-Downtown Hotel consists of 237 hotel rooms, 74 condominiums and BLT Steak Restaurant.
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About Capri Capital Partners, LLC
Capri Capital Partners LLC is an institutional real estate investment advisory firm, investing and managing commercial real estate properties and portfolios since 1992. Capri offers a broad spectrum of equity and debt products to its customers through separate account and commingled fund vehicles. Diversified assets managed on behalf of its pension fund and other institutional clients totaled $3.6 billion in fair market value as of December 31, 2009. For more information, please call 312-573-5275 or visit the company’s website www.capricapital.com.