ATLANTA—Newmark Grubb Knight Frank Hotels (NGKF) has arranged the sale of the 191-room Wellesley Inn Atlanta Airport located in the East Point, GA area to a regional buyer. The seller, based in New York, was United Capital. Sam Winterbottom, senior managing director, B.J. Patel, managing director, and Barrett Corwin, associate, from the firm’s Atlanta office, exclusively represented the seller during the transaction.
The six-story interior corridor Wellesley Inn includes a leased full-service restaurant, roughly 2,700 sq. ft. of meeting space, outdoor pool and sits on some three acres.
Located north of Atlanta’s Hartsfield International Airport, the hotel was operated as an independent. Post the close of sale, the hotel is scheduled to undergo a renovation and be converted to a Motel 6. According to the buyer, Motel 6 provided the opportunity to renovate the hotel with reasonable costs and benefit from strong upside potential and future cash-on-cash yield.