AVR Spins Off Two Atlanta Hotels

AVR Realty and investor partner Dimension Hospitality unloaded two Marriott-branded hotels near Truist Park for $66 million. The sale includes the 400-room Atlanta Marriott Northwest at Galleria and the adjacent 147-room SpringHill Suites Atlanta Northwest.

The two hotels are less than a mile from the Atlanta Braves ballpark. Morning Star Hotel Group Greensboro, North Carolina, bought them. The Atlanta Business Chronicle reports that they will be completely renovated in the next 18-24 months.

AVR Realty and Dimension acquired the Marriott in 2017 for $56 million. The companies secured a nearly $47 million loan from M&T Bank of New York for the acquisition, which matured last May.

AVR Realty built the SpringHill Suites next door to the Marriott, opening that hotel in 2022.