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Hawthorn Suites
Atlanta, GA
Purchased property to de-condominiumize into 80-room nationally affiliated hotel
SITUATION:
Circa 1950s Fountains on Peachtree Condo, with all units in the building owned; established a plan to acquire the individual condo units to create a fee simple parcel.
THE PLAN:
Acquire equity partner; strategically purchased several condo units on the market to commence acquisition; building developed as a suites hotel and RDS oversaw all aspects of construction; RDS continued to be engaged with project and successfully managed the building until it was acquired.
RESULTS:
De-condominium and re-development of the project was achieved through a skillful, deliberate and well-executed strategy; potential litigation completely circumvented; launched the redevelopment of the South Buckhead corridor in Atlanta; the project remains the largest deconstructed condo ever attempted in Atlanta.
