Crescent Real Estate Sells The Hotel at Avalon
Crescent Real Estate has completed the sale of The Hotel at Avalon, a 330-room luxury hotel in Alpharetta. The company acquired the property in September 2020 amid significant uncertainty in the hospitality industry.
FORT WORTH, Texas – Crescent Real Estate has finalized the sale of The Hotel at Avalon, a 330-room luxury hotel located within Avalon, a mixed-use development in Alpharetta. Crescent acquired the hotel in September 2020, a period marked by considerable uncertainty in the hospitality sector due to the COVID-19 pandemic.
The company identified the property as a high-conviction investment due to its quality and strategic location within the Avalon ecosystem, which features retail, dining, office, residential, and entertainment offerings. Opened in 2018, The Hotel at Avalon serves as the hospitality anchor for the development.
According to Crescent, the hotel's quality, market-leading performance, and irreplaceable position within Avalon attracted substantial investor interest, resulting in one of the most notable hotel transactions in the Atlanta market in recent years.
During Crescent's ownership, the hotel benefited from the recovery of the lodging sector and the continued growth of the Avalon community. The company stated that the successful sale demonstrates its ability to identify high-quality opportunities during periods of market dislocation and create value through disciplined ownership and management.