Tavistock Acquires Atlanta's Trophy St. Regis Hotel and Residences

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Orlando-based Tavistock Group announced this week that they have acquired the luxury 151-room St. Regis Hotel and the remaining 30 St. Regis Residences in Atlanta's exclusive Buckhead  community. Tavistock Group acquired the property from a consortium of partners, some of whom were also the property's development team. The price was not disclosed.

"We are thrilled to acquire the St. Regis property in Atlanta and believe it is a terrific asset in one of the Southeast's most prominent cities.  We believe Atlanta will continue to be a critically important economic and cultural center for the next several decades," said Douglas E. McMahon, a managing director of the diversified, privately-held investment company.

Starwood Hotels & Resorts will continue to manage The St. Regis Atlanta, which has proven to be a successful partnership to date, recently recognized as the Buckhead Business of the Year by the Buckhead Business Association.

The 26-floor St. Regis Atlanta Hotel & Residences debuted April 14, 2009 and features 151 luxury guest rooms and suites, 53 St. Regis Residences, more than 16,000 square feet of contemporary meeting and event space, two exclusive bars, world-class culinary options, a state-of-the-art fitness facility that overlooks an exquisite 40,000-square-foot Pool Piazza and poolside Bar, a 7,800-square-foot Remede Spa and Paces 88, the signature restaurant. Each guest room and suite is attended by the signature St. Regis Butler Service, an ever present yet unobtrusive service dedicated to meeting the needs of discerning global travelers. The St. Regis Atlanta Hotel & Residences is located at 88 West Paces Ferry Road in Buckhead.

"Our group is interested in finding and acquiring more quality assets like the St. Regis, and my team currently is looking across the country for similar opportunities," stated Barry Goff, the managing director of diversified acquisitions for Tavistock Group.

"The quality of the real estate asset and the City of Atlanta were driving factors for us," said McMahon, "and we look forward to expanding our presence in Atlanta and introducing the resident owners of the St. Regis to the benefits of being a part of the Tavistock Group family."

Opened in April 2009, The St. Regis Atlanta was developed by the SR Hotel Development Company, LLLP, and has enjoyed notable success both as a hotel and a preferred residential address. The St. Regis Atlanta has established a new standard of quality for high-rise hospitality and living in the Southeast. The St. Regis Hotel was recently presented the 2011 AAA Five Diamond Award in lodging, 2011 AAA Four Diamond Award in restaurants for Paces 88 and the 2010 Hot List Award by Conde Nast Traveler. Twenty-three of the fifty-three Residences already have been sold to a broad array of prominent community and business leaders from the city.

"We intend to be a hands-on, highly involved owner," added McMahon. "We will strive to make this the very best St. Regis hotel property and work to establish the St. Regis Residences at 88 West Paces Ferry as the most desirable address in the city of Atlanta."

The Tavistock Group is an international private investment firm founded by Joe Lewis with investments in 250 companies across 15 countries.

Tavistock Group's investment portfolio includes:  life sciences, professional sports team and sporting events, manufacturing and distribution, oil, gas and energy, financial services, restaurants, commercial properties, private luxury residential properties, resort properties and master-planned real estate developments.

Tavistock Group currently owns and has developed the renowned Isleworth (home to golf greats that include Tiger Woods) and Lake Nona Golf & Country Club (Ernie Els' neighborhood), both based in Orlando, Florida, the luxury resort community of Albany in The Bahamas, and is currently building a 7,000-acre master-planned medical city in central Florida anchored by the new Nemours Children's Hospital, The Sanford-Burnham Institute, and The University of Central Florida's College of Medicine.

 

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