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ATLANTA-The 20-story, 369-room Westin Atlanta North hotel is officially under new ownership. DiamondRock Hospitality Co. of Bethesda, MD and locally based Noble Investment Group have closed their all-cash acquisition deal with White Plains-based Starwood Hotels & Resorts Worldwide. GlobeSt.com first reported the $61.5-million sale April 27. The price equates to an average $166,666 per room.

The buyers plan to invest another $3 million in capital improvements at the property over the next 12 months. Noble will manage the property. The hotel will remain a Westin-branded property at 7 Concourse Parkway at the intersection of Interstate 285 and GA 400 in the Concourse Office Park.

At the closing, Mit Shah, Noble’s president and CEO, called the hotel “an exceptional asset to Noble’s growing institutional quality portfolio.” Shah says he is confident “the hotel will be able to take advantage of the growth in the Atlanta economy and quickly establish itself as a market leader.”

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