$62M Westin Atlanta North Hotel Deal Closes

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.