ATLANTA-Although Jones Lang LaSalle Hotels has been hired byChicago-based Capri Capital Partners as the asset manager for the WAtlanta Hotel & Residences, the company doesn’t have any plansto make changes in how the property operates, says Justin Epps,vice president, Jones Lang LaSalle Hotels. Instead, it is chargedwith looking at the strategic, long-term picture for theproperty.

In addition, says Martin G. Alston, Capri Capital Partners'chief administrative officer, “We retained Jones Lang LaSalle toassist in the transition from the Barry Real Estate Co. to Capri."In April, Capri, as manager of a co-mingled fund of institutionalinvestors, assumed primary ownership of the 28-story, mixed-usehotel and condo property when they converted their mezzanine loaninto an equity interest. The Barry Real Estate Companies developedthe W Atlanta Hotel & Residences.

“We are doing an initial assessment of (the W), including the 75condominiums associated with it,” says Epps. “To date, only one ofthe condominiums has sold, but we will be working with the currentbrokerage firm, Atlanta Fine Homes, to get those condos back ontrack.”