UNLOCK THE POWER OF THE VAULT

Carey Watermark Investors Sells Its 57% Interest in Westin Atlanta Venture

October 26, 2017

Carey Watermark Investors Sells Its 57% Interest in Westin Atlanta Venture

October 26, 2017 | James Sprow | Blue Vault

money-building

On October 19, 2017, the CWI AM Atlanta Perimeter Hotel, LLC venture, or the Westin Atlanta Venture, in which Carey Watermark Investors Incorporated, or CWI, owned a 57% interest, was sold to an unaffiliated third-party for a contractual sales price of $85.5 million. CWI received net proceeds of approximately $25.9 million. The Westin Atlanta Venture was accounted for under the equity method of accounting.

The Westin-Atlanta Perimeter North is a full-service hotel built in 1986 with 372 rooms as of June 30, 2017. The Carey Watermark Investors share of the 2012 acquisition price was $24.1 million. In May, 2017, the REIT sold the Hampton Inn – Boston Braintree for $19.0 million, a 103-room property which the REIT had purchased in 2012 for $13.1 million. The Company has sold five hotels since January with a total of 844 rooms.

 

didyouknow_sponsorfocus-green

Learn more about W. P. Carey on the Blue Vault Sponsor Focus page.

Click Here

 

recent-news

Carey Watermark Investors and Carey Watermark Investors 2 Announce Acquisition

Carey Credit Income Fund 2016 T Updates NAV

Guggenheim Partners Investment Management to Replace Carey Credit Advisors at Carey Credit Income Fund

 

 

 

Go Back
Derek Hayes
Blue Vault's Services
April 14, 2016
    

BlueVault saves a lot of time and effort in obtaining good numbers for analysis and provides good insights to compare against my own.