The Plasencia Group transacts Modern Lifestyle Hotel in Burgeoning Midtown Atlanta
Tampa, Fla. (July 12, 2022) – THE PLASENCIA GROUP has closed the sale of the 176-room Canopy Atlanta Midtown. The firm advised a venture comprised of Greystar, Concord Hospitality, and Whitman Peterson with their disposition of the hotel, marking the second Atlanta-area lodging sale consummated by the advisory firm over the past three months. Peachtree Hotel Group, headquartered in Atlanta, acquired and will operate the property.
The Canopy Atlanta Midtown opened in December 2018 in conjunction with the adjacent Ascent Midtown Apartments, developed by Greystar. The hotel anchors the northern end of Midtown Atlanta and presents an auspicious brand experience for the booming submarket, which continues to attract droves of blue-chip corporations and highly-educated residents, all in immediate proximity to Georgia Tech’s 400-acre campus, Savannah College of Art and Design’s (SCAD) newly-purchased Midtown Atlanta campus, and an abundance of leisure amenities within the area’s urban core.
“We’re extremely pleased to help our client successfully exit their investment and, likewise, are excited to see Peachtree Hotel Group, a leader within the hospitality industry and a household name in the Atlanta area, assume ownership of this pristine property,” commented Chris Plasencia. He added, “As a leading lifestyle hotel within Midtown Atlanta, the Canopy’s impressive suite of amenities and contemporary guestroom product position the property among the submarket’s finest lodging options.” Atlanta remains in the crosshairs of nearly every lodging investor due to its ceaseless guestroom demand and world-class airlift capacity, while the Midtown submarket is anticipated to realize outsized economic growth as the focal district for expansion among leading educational institutions, tech companies, and residential development.
Lou Plasencia, Robert Wiemer, Nick Plasencia, and Chris Plasencia facilitated the transaction, adding to the impressive list of recent successes for The Plasencia Group and its clients. The firm has orchestrated the sale and financing of more than $1.2 billion in lodging transactions across 6,100 rooms in the Southeast United States’ most active lodging markets over the last 12 months.
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 hotel and resort owners throughout North America. The firm has completed some of the most notable transactions across North America since it was founded in 1993.
About Concord Hospitality Enterprises Company
As an award-winning hotel development and management company, Concord Hospitality Enterprises Company has spent the last three decades successfully growing the company’s portfolio, which includes premium-branded properties across the United States and Canada. Recognized as one of the top 10 management companies in North America, Concord Hospitality creates benefits for its partners and associates by leveraging its operations, development, sales and marketing, technology, accounting, and operational management expertise to continue to grow its portfolio of best-in-class hotels. The company believes its people are its greatest strength. With the brightest talent, the most innovative processes, and a commitment to giving back to the communities where associates live and work, Concord Hospitality is committed to being a great place to work for all. Learn more at concordhotels.com.
About Whitman Peterson
Whitman Peterson is a real estate private equity company investing in and actively managing opportunistic real estate investments on behalf of large institutional investors. Since late 2010, Whitman Peterson has raised four opportunity funds and has invested in the acquisition or development of more than 200 properties, with an aggregate capitalization of more than $20 billion. The firm has investments across 30+ markets in the U.S. and select investments in London. Whitman Peterson has long-standing strategic partnerships with both Concord Hospitality and Greystar and this is one of several projects where all three groups have come together to execute on hotel development projects.
About Peachtree Hotel Group
Peachtree is a real estate private equity investment firm investing primarily in hospitality. Since its founding in 2008, the company has completed hundreds of real estate investments valued at more than $6.5 billion in total market capitalization, and currently has $2.3 billion in equity under management. For more information, visit www.peachtreehotelgroup.com.