The buyers plan to invest another $3 million in capitalimprovements at the property over the next 12 months. Noble willmanage the property. The hotel will remain a Westin-brandedproperty at 7 Concourse Parkway at the intersection of Interstate285 and GA 400 in the Concourse Office Park.
At the closing, Mit Shah, Noble's president and CEO, called thehotel "an exceptional asset to Noble's growing institutionalquality portfolio." Shah says he is confident "the hotel will beable to take advantage of the growth in the Atlanta economy andquickly establish itself as a market leader."
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