McKibbon Income Fund I has purchased the Courtyard Atlanta Buford Mall from an institutional seller for an undisclosed price. David Perrin, senior vice president out of Hunter Hotel Advisors’ Atlanta office, facilitated the transaction. McKibbon Income Fund I is an income-focused hotel investment fund from developed by hospitality firm McKibbon to acquire existing select-service and extended-stay assets in key markets throughout the southeastern United States.
“We’re excited to be expanding our footprint in the Atlanta Metro with the purchase of Courtyard Buford,” Matthew Ram, senior vice president of acquisitions at McKibbon, said in a statement. “It’s been a challenging transaction market over the last few years and we are pleased to have acquired a high quality newer-vintage Courtyard at an attractive basis.”
The 110-key Courtyard Atlanta Buford Mall of Georgia is close to the Mall of Georgia and the Gas South Arena, an event venue that sees over 900,000 people every year.
"We're pleased to have arranged the sale of an asset that was so close to home,” Perrin said. “Despite the difficult transaction landscape, it was a pleasure working with McKibbon and we look forward to seeing their plans unfold for this exceptional property."
Built in 2009, the five-story hotel has an indoor pool, fitness center and on-site restaurant.