Fort Worth, Texas – – September 25, 2026 -- Crescent Real Estate LLC has closed the sale of The Hotel at Avalon, a 330-room luxury property in Alpharetta, Georgia, marking one of the most notable hotel transactions in the Atlanta market in recent years.
Crescent acquired the property in September 2020 during peak pandemic uncertainty
The firm bought the hotel amid what it called "unprecedented uncertainty" in the hospitality sector, betting on the long-term strength of the asset despite widespread investor caution at the time. Christopher Goff, Senior Managing Director and Head of Capital Formation at Crescent, said the firm acquired the property at a basis reflecting that period of extraordinary market disruption.
The hotel serves as the sole hospitality anchor within Avalon's mixed-use development
Opened in 2018, The Hotel at Avalon operates as the only hotel within Avalon, a mixed-use destination in the Southeast combining luxury retail, dining, office, residential, and entertainment space. Crescent stated the property's position within this ecosystem is irreplaceable, contributing to its market-leading performance during the ownership period.
HEI Hotels & Resorts managed the property throughout Crescent's ownership
Troy Furbay, Managing Director and Head of Hospitality at Crescent, credited the property's performance to the combined efforts of Crescent's team and HEI Hotels & Resorts, stating this stewardship drove significant interest from the investment community ahead of the sale.
Eastdil Secured advised Crescent on the disposition process
Crescent confirmed Eastdil Secured guided the transaction to close, with the firm citing the deal as validation of its strategy of acquiring high-quality assets during periods of market dislocation.