Davidson Hotels & Resorts announced the addition of the 341-room Atlanta Marriott Perimeter Center to itsportfolio. Integrated Capital LLC, a private real estate advisory and investment firm, which has acquired or developed assets with a total capitalization of more than $500 million since its founding in 2004, is the new owner.
The 16-story Atlanta Marriott Perimeter Center, originally built in 1976, has been completely reimagined through $23 million in recent renovations. Integrated Capital will make a significant additional investment to create an outstanding sense of arrival, including a full exterior modernization, physically elevating the hotel to its fullest potential.
"With the current acceleration of the Perimeter area, we're excited to be managing a hotel in the new epicenter of the city, proximate to the U.S. headquarters or regional super-campuses for Mercedes-Benz, State Farm Insurance, Newell Rubbermaid, First Data, Cox Enterprises and UPS, just to name a few," said John Belden, president and chief executive officer of Davidson. "Exercising the perfect blend of institutional discipline and entrepreneurial savvy, Integrated Capital will leverage Davidson's local knowledge and Marriott's renowned demand distribution systems in creating an exciting new chapter for the Perimeter Center hotel. Through the Marriott/Starwood combination, over 1/3 of our portfolio now resides under the Marriott umbrella of brands, including two with Integrated Capital."
"As we continue to expand our hospitality assets, the Perimeter Center hotel presents a great opportunity to reposition a well-located property and significantly enhance the business by making dramatic improvements in the guest experience," stated Kenneth Fearn, managing partner for Integrated Capital. "Davidson has an exemplary record of success in the full-service, upper-upscale and near-luxury segments, and we trust they will maximize our asset value in the Marriott through their relentless pursuit of quality."
Capitalizing on the trend of communal living, the hotel features a southern-inspired Greatroom, offering an engaging setting for work, play or entertainment. The hotel also offers over 18,000 sq. ft. of meeting and event space, an indoor/outdoor pool, fitness center and exceptional culinary experiences in the Twisted Oak Restaurant.
A thriving destination, the Perimeter area encompasses the largest suburban office concentration in the Southeast and one of the fastest-growing residential, shopping and dining concentrations in the city. Perimeter is serviced by four MARTA rail stations, including one within steps of the Marriott, making access throughout the city both easy and inexpensive. Guests can walk to one of the largest malls in the Southeast and the hotel is in close proximity to leading attractions, including the Georgia Aquarium, the largest aquarium in the Western Hemisphere, the World of Coca-Cola, a museum showcasing the history of The Coca-Cola Company, and the new stadiums for both the MLB Atlanta Braves and the NFL Atlanta Falcons.
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