Tampa, Fla. (April 5, 2022) – THE PLASENCIA GROUP has closed the sale of The American Hotel Atlanta Downtown, a DoubleTree by Hilton. The firm represented Atlanta-based Legacy Ventures, sellers of the 315-room hotel. RADCO Investors, also headquartered in Atlanta, acquired the property, and Legacy Ventures’ affiliated hotel management company is continuing to operate the hotel on behalf of new ownership.
Prior to the disposition, Legacy Ventures completed a comprehensive renovation program to reposition the property as The American Hotel, embracing a retro, midcentury-modern theme. RADCO Investors plans to capitalize on the recent upgrades and up-brand the asset to Hilton’s new Tapestry Collection brand.
The American Hotel benefits from its location at the heart of Downtown Atlanta, within walking distance of some of the city’s most popular demand generators, including the Georgia World Congress Center, Centennial Olympic Park, World of Coca-Cola, Georgia Aquarium, and arenas of the Atlanta Falcons, Atlanta Hawks, and Atlanta United.
“There is much more to the story of The American Hotel than its city-center location,” commented Nick Plasencia, Managing Director of The Plasencia Group. “The property is one of the most historically significant hotels in the South, playing an integral role in the Civil Rights Movement and hosting some of American history’s most beloved figures. The team at Legacy Ventures knocked the hotel’s repositioning out of the park, bringing back its midcentury-modern charm and highlighting the rich character of property.”
Atlanta’s path to recovery is as simple as it gets. As the country focuses on the Southeast for leisure travel, corporate relocations, and net migration, one of Atlanta’s many monikers, the “Gate City of the South,” could not be more appropriate. The city’s unparalleled array of attractions, centers of business and academia, and propensity for hosting some of the nation’s top recurring events, conventions, and sports competitions give its hotels the ability to lead the ongoing resurgence in leisure, corporate and group travel.
About The Plasencia Group
The Plasencia Group is a full-service lodging investment advisory firm offering transaction services, capital markets, asset management and development management consulting services to its clients throughout North America. The firm has completed hundreds of engagements since it was founded in 1993.
For more information, visit www.tpghotels.com.
About Legacy Ventures
Legacy Ventures, founded in 1994, is a best-in-class hospitality investment, development, and management company. Legacy Ventures’ management portfolio focuses on full-service hotels and restaurants in city-center, suburban, and resort markets, and it has a proven record of success in ground-up development, repositioning, and value-add opportunities. Legacy Ventures delivers exceptional guest experiences through an engaged and passionate team, yielding measurably better results for owners, partners, and investors.
For more information, visit LVmgt.com.
About The RADCO Companies
RADCO was founded in 1994 with the mission of “Building Better Living.” Based in Atlanta, RADCO is a national real estate company that specializes in the acquisition and redevelopment of value-add multifamily and hospitality investments across the Southeast and Central US. Over the past 10 years, the firm has acquired and invested in approximately 30,000 units in 15 markets and completed more than 100 deals totaling $3.2 billion. For more information, please visit https://www.radco.us.
