Summary:
- Blueleaf and 3VP acquired SpringHill Suites Buckhead in Atlanta.
- They plan to renovate the property and Legacy Ventures Management will operate it.
- The 220-key property sits above three levels of parking near the Buckhead MARTA Station.
BLUELEAF CAPITAL AND Three Vision Partners acquired the 220-key SpringHill Suites by Marriott Atlanta Buckhead in Atlanta. The buyers plan to renovate the property and have retained Legacy Ventures Management to manage and reposition it.
The 11-story property sits above three levels of underground parking and is adjacent to the Buckhead MARTA Station, with access to GA-400 and Lenox Road, Blueleaf said. Nearby attractions include Lenox Square, Phipps Plaza, the Atlanta History Center, Chastain Park Amphitheater, the Georgia Aquarium and the Atlanta Botanical Garden.
The property is near Buckhead’s financial district, residential neighborhoods, shopping, dining and regional demand drivers that support multi-year hotel demand, the statement said. The acquisition reflects Blueleaf and 3VP’s strategy to partner with sellers, lenders and capital providers seeking partners to navigate complex transactions and reposition underperforming hospitality assets.
Atlanta-based Blueleaf is led by Founder Andy Chopra, while 3VP is led by Partners Tyler Averitt and Josh Goldfarb.
“Buckhead continues to rank among the most attractive and institutionally desirable submarkets in the Southeast, supported by durable demand drivers, sustained reinvestment, excellent infrastructure and exceptionally high barriers to entry,” said Chopra. “We focus on acquiring well-located assets at a compelling basis, upgrading them thoughtfully and managing them with discipline. Ensuring each investment has an appropriately structured balance sheet is central to our approach and in this case a reset basis allows the property to perform to its full potential. We have strong conviction in both Buckhead and the Atlanta hospitality market and we view this asset as an opportunity for meaningful long-term value creation.”
Averitt said acquiring the hotel provides an opportunity to reestablish the capital structure and position the asset for cash flow.
“We are focused on situations where strong real estate is constrained by legacy financing and where thoughtful recapitalization and disciplined execution can unlock long-term value,” he said.
Separately, CN Hotels recently acquired a 216-room dual-branded Holiday Inn and Staybridge Suites in Doral, Florida, from an institutional seller, with Hunter Hotel Advisors facilitating the transaction.
