Dynamic Buckhead destination marks the second purchase for the recently launched hospitality fund
Woodbine Legacy Investments (WLI) purchased W Atlanta-Buckhead. The 12-story, 291-room full-service hotel sits at the heart of Buckhead, a 13-million-square-foot mixed-used district that has been rated by Robb Report as one of the nation’s “Top 10 Affluent Communities.”
W Atlanta-Buckhead marks the second acquisition for WLI, a private real estate fund created by Woodbine Development Corporation (Woodbine). Mark Elliott and Todd Ratliff of Hodges Ward Elliott served as the brokers for the transaction. Marriott International will continue to serve as the hotel’s operator.
“Buckhead is one of the best markets in the country and one of the few that isn’t seeing a major influx of hotel inventory. Those factors—plus demand-drivers like nearby office, retail and residential—are what put W Atlanta-Buckhead at the center of the strike zone for us,” said T. Dupree Scovell, managing partner and chief investment officer of Woodbine Legacy Investments and Woodbine. “Our plan is to maximize the potential of the property by repositioning and updating it to be the best lifestyle hotel in Buckhead.”
W Atlanta-Buckhead’s amenity lineup includes three F&B outlets: Cook Hall, Living Room and Buckhead’s only rooftop bar, Whiskey Blue. Scott Gerber, principal and CEO of Gerber Group that owns and operates Whiskey Blue, intends to evolve and update the bar to complement the major renovation WLI is planning for the hotel.
Other offerings at the property include a 24-hour fitness center; yoga, barre and boot-camp classes; an infinity-edge pool overlooking the famed Peachtree Road; and 11,000 square feet of flexible indoor/outdoor meeting and event space. The destination also boasts adjacency to luxury high-rise residential projects and best in class retail shops—the extravagant combination of which has earned the Buckhead neighborhood a reputation as “the shopping mecca of the Southeast.” Top draws along Peachtree Road include the boutique Peachtree Lenox Building, Lenox Square Mall, the luxury Shops Around Lenox and the Buckhead MARTA Station.
WLI’s acquisition of W Buckhead-Atlanta is the real estate fund’s second purchase. Woodbine’s ongoing partnership with the Marriott International—which is currently growing the W brand around the world and working to innovate in the lifestyle space—now includes more than $225 million in active development projects.
About Woodbine Legacy Investments
Woodbine Legacy Investments is a real estate investment platform that focuses on branded, boutique and independent hotel acquisitions and investments across the United States. Capitalized by select family offices, foundations and institutions, WLI pursues lower-risk, conservatively leveraged, full-service and select-service hotel assets in top-tier markets that offer long-term cash-flow opportunities for investors. The fund is led and owned by Woodbine Development Corporation. To learn more, email WLI@woodbinedevelopment.com.
About Woodbine Development Corporation
Woodbine Development Corporation is a full-service real estate company with more than 40 years of development, investment, acquisition and asset management experience. With offices in Dallas, Phoenix and Los Angeles, Woodbine specializes in hotels, resorts and mixed-use developments throughout the United States. The company’s hospitality portfolio features major brands, independent hotels, full-service destinations and select-service stays alike. Since 1973, Woodbine has been involved in more than $7 billion in commercial real estate projects, including the development, ownership, asset management, repositioning or renovation of over 17,000 hotel rooms. To learn more, visit www.woodbinedevelopment.com.