ATLANTA—FelCor Lodging Trust Inc. has sold the 395-room Sheraton Gateway Atlanta Airport hotel here to an affiliate of Hotel Capital, LLC.
The transaction, which closed on Oct. 8, was reported by HREC Investment Advisors, which represented the Irving, TX-based seller in the transaction. Monty Levy, senior vice president in HREC Investment Advisors' Atlanta office, Bill Murney, senior vice president in the firm's Phoenix office and Scott Stephens, COO and senior principal in its Tampa office, exclusively represented FelCor Lodging in the deal.
No financial terms of the transaction were released. HREC states that the Sheraton Gateway Atlanta Airport hotel will be managed by Expotel Hospitality on behalf of the new owner.
"This was a very complicated transaction, due in large part to the fact that it was both a fee and leasehold transaction," Levy says. "It was a testament to the high level of expertise of the HREC team that we were able to structure the transaction and get it closed on behalf of our client."
In February of this year, FelCor sold its 222-room Embassy Suites Atlanta Airport hotel for $17.2 million.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
