Dallas-based Wyndham International Inc. went through with thedeal at this time because it fitted into the company's long-rangerestructuring program. "The sale of the Wyndham Midtown Atlanta wasa targeted disposition as we continue to move forward with sellingselect non-strategic assets while keeping them in our brand throughnew management or franchise agreements," says Fred J. Kleisner,Wyndham's chairman and CEO.

"By retaining the Wyndham Midtown Atlanta in our portfolio ofnine Atlanta-area properties, we remain strong in one of our keybusiness markets," he adds.

The hotel is across the street from Dewberry Capital's MidtownSquare site which the developer acquired in 1999. The hotel is alsonear the Federal Reserve Bank, the Margaret Mitchell House,Piedmont Park and is convenient to Georgia Tech, Coca-Cola Co., theGeorgia Dome, Philips Arena and the Fox Theatre.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.