InterContinental hotel sells for $105 million

Pebblebrook Hotel Trust has purchased the InterContinental Buckhead from InterContinental Hotel Group for $105 million, according to a news release.

The sale is the the third largest single-asset hotel transaction in the country this year, eclipsed only by the Hilton Minneapolis, which sold for $155 million, and the Hyatt Regency Boston, that went for $112 million, according to Jones Lang LaSalle Hotels, who arranged the Atlanta deal.

The 422-room, five-diamond hotel is located on Peachtree near Lenox and Phipps malls and will continue to be managed by the InterContinental Hotel Group, the release said. IHG operates the Holiday Inn, Staybridge Suites, Crowne Plaza and InterContinental brands and has its Americas headquarters in metro Atlanta.

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Michelle E Shaw

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