JLL Hotels' Fannie Mae Challenge

ATLANTA-Although Jones Lang LaSalle Hotels has been hired by Chicago-based Capri Capital Partners as the asset manager for the W Atlanta Hotel & Residences, the company doesn’t have any plans to make changes in how the property operates, says Justin Epps, vice president, Jones Lang LaSalle Hotels. Instead, it is charged with looking at the strategic, long-term picture for the property.

In addition, says Martin G. Alston, Capri Capital Partners’ chief administrative officer, “We retained Jones Lang LaSalle to assist in the transition from the Barry Real Estate Co. to Capri.” In April, Capri, as manager of a co-mingled fund of institutional investors, assumed primary ownership of the 28-story, mixed-use hotel and condo property when they converted their mezzanine loan into an equity interest. The Barry Real Estate Companies developed the W Atlanta Hotel & Residences.