Fort Worth-based Crescent Real Estate has sold The Hotel at Avalon, a 330-room luxury hotel in Alpharetta, Georgia, the company announced Friday, Sept. 25.
Crescent did not disclose the sale price or identify the buyer.
The company acquired the hotel in September 2020, during a period of significant disruption in the hospitality industry during the COVID-19 pandemic. Crescent said it viewed the property as a long-term investment supported by the hotel’s location and its position within the Avalon mixed-use development…