The St. Regis Hotel and Residences, one of Atlanta’s most exclusive condo addresses and luxury lodges, has sold for an undisclosed price to Windermere, Fla.-based Tavistock Group.
The company bought the 151-room St. Regis Hotel and 30 unsold condos, it announced last week. The firm did not disclose the sale price, which was not immediately available in the public record. It was sold by a group of partners, some of whom developed the property at 88 West Paces Ferry Road in Buckhead.
Atlanta’s captains of industry (and radio waves) have bought condos in the St. Regis. For example, Neal Boortz paid $4.4 million for a unit in 2009, while members of the Halpern family -- of steak fame -- bought several multi-million dollar residences, according to the Fulton County Board of Assessors Web site. The building has 26 floors, with 53 condo units and 151 hotel rooms, and was completed in 2009.
“We believe Atlanta will continue to be a critically important economic and cultural center for the next several decades," Douglas E. McMahon, a managing director of investment firm Tavistock, said in a statement.
Starwood Hotels & Resorts will continue to manage the hotel, which was developed by the SR Hotel Development Co., and earned the the 2011 AAA Five Diamond Award in lodging.
