Crescent Real Estate Sells 330-Room Hotel at Avalon in Alpharetta for Reported $220 Million

Crescent Real Estate has sold the Hotel at Avalon, a 330-room luxury hotel at 9000 Avalon Boulevard in Alpharetta, Georgia, the Fort Worth-based firm announced September 17, 2026. A joint venture between Endeavor Real Estate Group and Cox acquired the property for a reported $220 million, or approximately $667,000 per room, in what Crescent described as one of the more notable hotel transactions in the Atlanta market in recent years.

A Contrarian Acquisition Realized

Crescent Real Estate acquired the Hotel at Avalon in September 2020, when the COVID-19 pandemic had severely disrupted lodging demand and transaction liquidity across the hospitality sector. The firm's thesis centered on the property's physical quality, its position as the only hotel within the Avalon development, and the long-term strength of the surrounding mixed-use ecosystem.

"In the fall of 2020, very few investors were willing to lean into hospitality. We believed The Hotel at Avalon was a truly irreplaceable asset located within one of the country's premier mixed-use communities, and we were able to acquire it at a basis that reflected a moment of extraordinary market uncertainty," said Christopher Goff, Senior Managing Director and Head of Capital Formation at Crescent Real Estate. "That combination of conviction, disciplined underwriting, and strong execution by our team and partners produced a great outcome for our investors, fully validating our original investment conviction."

Throughout Crescent's ownership, the lodging sector recovered and the Avalon community continued to expand, reinforcing the original investment rationale. Long Wharf Capital served as a capital partner on the investment.

Property and Location Profile

The Hotel at Avalon, also known as the Hotel at Avalon, Autograph Collection, opened in 2018 and serves as the hospitality anchor of Avalon, an approximately 86-acre, $1 billion mixed-use district in Alpharetta. The development encompasses roughly 2.3 million square feet of retail, dining, office and entertainment space, along with more than 600 luxury rental apartments.

The hotel's 330 guest rooms and suites range from approximately 355 to 1,100 square feet. The property includes approximately 30,604 to 35,139 square feet of meeting and event space, a second-floor swimming pool, a fitness center, a restaurant and approximately 407 parking spaces. Its location near Georgia 400 provides regional accessibility within metro Atlanta.

As the only hotel within Avalon, the property draws demand from corporate visitors connected to Alpharetta's office and technology base, retail and restaurant-related visitation, weddings and meetings, and destination-oriented stays — a demand mix that extends beyond conventional transient hotel travel.

"The Hotel at Avalon has consistently distinguished itself as one of the premier hotels in the Southeast," said Troy Furbay, Managing Director and Head of Hospitality at Crescent Real Estate. "The strength of the property, the Avalon ecosystem, and the great work of Crescent's team alongside HEI Hotels & Resorts positioned the hotel for sustained success throughout our ownership and ultimately drove significant interest from the investment community."

Advisors and Execution

Eastdil Secured advised Crescent Real Estate on the disposition. HEI Hotels & Resorts operated the property throughout Crescent's ownership period. Crescent credited both firms in its announcement, noting Eastdil Secured's professionalism and guidance through the sale process and HEI Hotels & Resorts' stewardship of the asset.

Market Context

The transaction reflects a pattern that has emerged across the hospitality investment landscape since the pandemic: firms that acquired hotels at distressed or discounted pricing during 2020 and 2021 have increasingly moved to realize value as operating fundamentals recovered and investor appetite for lodging assets returned. The reported $220 million price and approximately $667,000-per-key valuation place the Hotel at Avalon among the higher-profile hotel trades in the Atlanta area in recent years, consistent with Crescent's own characterization of the deal's significance in the market.

Crescent said the disposition reflects its broader approach of identifying high-quality opportunities during periods of market dislocation, investing with conviction, and creating value through active asset management.

Sources

Crescent Real Estate — Crescent Announces Successful Sale of the Hotel at Avalon