ATLANTA-The deal was set to close in October, but a lack of financing put the 140- room Days Inn hotel in Midtown back on the market. It is located in the heart of Midtown across the street from another historic and thriving property, the Fox Theatre and just a block north of the elegant vintage Georgian Terrace, which is being renovated.

The historic 1927 hotel, now a Days Inn, was earmarked to become a boutique hotel with 80 luxury suites and three floors of condos. It was to reclaim its original name, The Carlton. The property had been on the market for nearly a year for $7.5 million It was put up for sale by Hodges Ward Elliott, which bought it in 1985. That firm has been selling its properties in a move toward brokering.

A joint venture of Crow Hospitality Investment Group, Dallas-based Foresthills Hotels and Resorts and Larry Evans, a preservation architect of New Place Cos. of Brunswick, GA signed a deal this past August to buy the hotel. The group designed a $22 million renovation to be completed by the middle of 2001.

Financing has been hard to come by. The partnership is still negotiating to buy the property even though the hotel is essentially back on the market.

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