Woodvale has acquired the Fairfield Inn & Suites Atlanta Buford Mall of Georgia from Hotel Equities. Others terms and conditions of the transaction were not disclosed. Hunter’s COO Lee Hunter and SVP David Perrin facilitated the transaction.
The Fairfield Inn & Suites Atlanta Buford Mall of Georgia is north of Atlanta, with access to major attractions and key destinations throughout the metro area, like Mall of Georgia, Lake Lanier and The Exchange @ Gwinnett, a new mixed-use development with retail, dining, entertainment and residential offerings.
“Our acquisition of the Fairfield Inn and Suites Atlanta Buford represents our commitment to adding high-quality, strategically positioned assets to our portfolio,” Bashir Mansour, vice president of investments for Woodvale, said in a statement. “We expect that this acquisition will deliver strong returns for our investors while benefiting Mall of Georgia’s evolving hospitality segment.”
The 96-room hotel has multifunctional guestrooms. Guests have access to a 24/7 fitness center, meeting spaces and an indoor pool. The new owner plans a full renovation of all guestrooms and public spaces.
“The Fairfield Inn & Suites Atlanta Buford Mall of Georgia has been a top performer in the Hotel Equities portfolio for the past 9 years,” said Fred Cerrone, former co-owner of the hotel and founder of Hotel Equities. “While we’re sad to see it leave, we’re equally proud to see its continued potential recognized by Woodvale. We sincerely appreciate the exceptional work by Hunter Hotel Advisors in brokering this successful transaction and ensuring a seamless process for all involved.”