10 JUNE 2024

HUNTER HOTEL ADVISORS ANNOUNCES SALE OF LE MÉRIDIEN ATLANTA PERIMETER

Hunter Hotel Advisors ("HUNTER") today announced the successful sale of the Le Méridien Atlanta Perimeter. Whitestone Companies purchased the 275-key asset from an institutional seller for an unclosed price on June 4, 2024. HUNTER’s Tim Osborne and Spencer Davidson, senior vice presidents, represented both parties in the all-cash transaction. Selecting Shaner Hotels to manage the daily operations of the hotel, the new owner intends to refresh the public space within the next 18 months.

“Atlanta is a market we have been eyeing for quite some time,” said Jay Batra, CEO of Whitestone Companies. “As with most things, it is about timing. With the Le Méridien, we believe we have found an incredible asset in a great location with considerable upside potential.”

Fully renovated in 2013, the Le Méridien Atlanta Perimeter is centrally located in the heart of Atlanta’s Perimeter Center, a rapidly developing retail and corporate sub-market of Atlanta located along I-285 and Georgia 400. Sitting adjacent to Perimeter Mall, the 12-story, 224,684 SF hotel is conveniently located near the corporate offices of State Farm and Mercedes Benz, as well as the headquarters of UPS and Cox Communications. Guests enjoy easy access to Atlanta’s major attractions including the Atlanta Botanical Gardens, College Football Hall of Fame, The World of Coca-Cola, Georgia Aquarium and more.

The Le Méridien Atlanta Perimeter prides itself in featuring some of the largest guestrooms in the market measuring a minimum of 412 SF. Additional amenities include 10,099 SF of meeting space, a luxurious outdoor pool and patio area, and a full-service dining experience inspired by global flavors.

“Tim and I are thrilled to have represented our client on the transaction of the Le Méridien Atlanta Perimeter,” said Davidson. “The opportunity represents HUNTER’s second transaction involving Whitestone Companies and we are excited to assist in the company’s amazing growth trajectory, advanced further by the innate value- add opportunity available at the Le Méridien.”