In a significant move within the hospitality industry, investment firms Monomoy Property Ventures and Axonic Capital have acquired the Crowne Plaza Atlanta – Midtown, a prominent 462-room hotel in Midtown. The property also operates under the Staybridge Suites Atlanta – Midtown brand, both managed by IHG Hotels & Resorts, based in Atlanta.
The transaction, valued at $35.5 million, was facilitated by FO Peachtree Property LLC, which sold the property last month, according to court records filed with the Georgia Superior Court Clerks’ Cooperative Authority.
As part of their plans for the hotel, the new owners intend to rebrand it under the Marriott Bonvoy Hotels umbrella. This rebranding will be accompanied by a comprehensive renovation project, scheduled to begin in 2026. The hotel is anticipated to reopen in late 2027, reflecting the companies’ commitment to revitalizing the Midtown locale.
In other real estate activity, a New York-based consortium including ShopOne Centers REIT Inc. has purchased the Publix-anchored Stockbridge Lakes shopping center in Henry County. The financial details of this transaction remain undisclosed. The shopping center, previously acquired by Retail Planning Corp. in 2018 for $6.3 million, underscores the ongoing interest and investment in the retail sector across the region.
The restaurant scene in Downtown Atlanta is also experiencing growth. Chef Demetrius Brown has secured a 3,000 square foot space for his restaurant, Heritage Supper Club, located at 63 Georgia Ave. in the Summerhill neighborhood. This marks the first permanent establishment for Heritage, which began as a pop-up concept in 2021. Brown’s Bellevue Hospitality, co-founded with Brandon Blanchard, also runs the popular Bread & Butterfly bistro in Inman Park.
In leasing news, Giggle Town, an interactive play concept for children, has leased a substantial 7,100 square feet at The Collection at Forsyth. This mixed-use destination, situated in Cumming, features notable tenants including Academy Sports, Barnes & Noble, and AMC. JLL Vice President Sherri Wilson was instrumental in brokering the deal on behalf of the landlord, CTO Realty Growth Inc.
Another significant leasing transaction comes from luxury automaker Mercedes-Benz, which recently inked a 60,000 square foot lease for new research and technology facilities at 384 Northyards Blvd. This location, at the southern edge of Midtown, will undergo renovations with plans to launch the new R&D center by summer 2026. Partners Real Estate’s Will Porter and Aileen Almassy brokered this deal for MetLife, the property’s landlord.
The development landscape is also bustling, with Atlantic Cos. commencing the Hillrose Market project in partnership with the city of Roswell. This mixed-use endeavor will feature a 75,000 square foot retail village, alongside an office building, 143 luxury rental apartments, and 16 for-sale brownstones. The project is expected to kick off next year, with the first phase slated for completion in 2027.
Additionally, Southern Ventures has been selected by the city of Woodstock to design a 130-room hotel across from the Northside Hospital-Cherokee Amphitheater downtown. This hotel will encompass a spa, multiple food and beverage venues, ground-level retail, and a 5,000 square foot meeting and event area. The project will be managed by Cobb County-based Valor Hospitality Partners, further emphasizing the area’s growth as a hospitality destination.
In another venture, Connolly has officially broken ground on the Woodstock Mill District. This shopping center, anchored by a Publix, will span 118,000 square feet and include several freestanding retail and commercial structures. The project integrates the existing 28,000 square foot Towne Lake Plaza, which Connolly purchased in 2021.
Mathews Southwest Hospitality and Songy Highroads are making strides in Savannah with their Signia by Hilton project, a 444-room hotel designed to serve as the headquarters for the Savannah Convention Center. This full-service hotel will connect directly with the convention center and feature 38,000 square feet of meeting space as well as a 13,000 square foot ballroom. With an anticipated opening in 2028, the project recently secured $390 million in municipal bond financing through Morgan Stanley.
In the tech sector, Edged Energy is progressing with the establishment of a third data center at Tilford Yard in Atlanta. The company has submitted an application to develop a 218,000 square foot facility with a budget of $217 million, showcasing the ongoing demand for data solutions in the metropolitan area.
Shifting focus to personnel movements within the real estate sector, Engel & Völkers founder Christa Huffstickler has sold a majority stake in her North Georgia Mountains luxury home brokerage to LH Group, a firm specializing in mountain homes and lakefront properties. Huffstickler will retain a shareholder role in the newly formed entity.
Furthermore, Ridgeline Property Group has appointed Will Lombard as a partner, where he will oversee Atlanta operations focusing on speculative and build-to-suit industrial developments. Lombard’s extensive experience in commercial real estate, having developed 15 million square feet throughout his career, is expected to drive growth at Ridgeline.
RangeWater Real Estate has elevated Wendy Tucker to managing director of its property management division, with oversight responsibilities across coastal Georgia and parts of the Carolinas and mid-Atlantic states, as the company aims to enhance its operations in these growing markets.
Peachtree Group has appointed Lindsay Monge as executive vice president of asset management, bringing her expertise from Seaview Investors, where she managed multiple hotels under the Marriott and Hilton flags in California. Her role will focus on managing hospitality and real estate assets within Peachtree Group’s portfolio.
Additionally, Katz & Associates, a boutique retail brokerage firm, is expanding into the Metro Atlanta market. They have brought on board industry veterans Julie Solomon and Claire Crawford, who have experience with notable clients and projects, to spearhead their Atlanta operations.
Completing the recent personnel changes, JLL has added Donna West as senior vice president for project and development services in Atlanta, tasked with launching new initiatives to enhance the company’s offerings in the area. West has more than two decades of experience in commercial real estate, previously overseeing significant renovation projects.
Finally, in the financing sector, MDH Partners has secured a $111.5 million loan from Truist to support a portfolio of nearly 800,000 square feet of commercial properties across various U.S. locations. This includes a significant flex industrial building in Suwanee that MDH acquired earlier this year for $22.7 million. The financing will facilitate ongoing investment in MDH’s expansive real estate portfolio.
As Atlanta continues to evolve with new developments, acquisitions, and strategic moves in the real estate sector, the city reaffirms its position as a burgeoning hub for hospitality, retail, and commercial ventures, showcasing a resilient and robust market poised for future growth.
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