Hotel Development Partners (HDP) announced the acquisition of a prime hotel site on Ashford Dunwoody Road near Perimeter Mall for the development of the 132-room Hampton Inn & Suites, which will be the latest urban prototype for this Hilton hotel brand.
The reuse of the 3.6 acre former parking field at the Sterling Pointe office complex will create a desirable urban setting for the hotel and 25,600 SF of restaurants and retail. Corner Bakery marks the first of two restaurants to be included in the project that provides a unique destination and experience for the Perimeter Center market.
Hotel Equities will manage the Hampton Inn & Suites Dunwoody/Perimeter Center. The project’s initial construction phase will begin immediately.
“We will deliver a dominant hotel brand and highly marketable outparcels to Atlanta’s most active market,” said Allen O’Brien, CEO of Hotel Development Partners, LLC. “We feel the strategic partnership with Hotel Equities will continue to add value to our acquisition and development of premium branded, select service hotels. HDP's investment is turning opportunities into reality.”
“We are thrilled to move forward on the Sterling Pointe project, adjacent to our Hotel Equities’ corporate headquarters,” said Fred Cerrone, Chairman and CEO of HE and COO of HDP. “We expect many more exciting opportunities through the HDP strategic partnership in the near future.”
Hotel Equities (HE) is an Atlanta-based full-service hotel development and management company operating more than 50 hotels throughout North America and internationally. Frederick W. Cerrone, CHA, serves as Chairman and Chief Executive Officer. Brad Rahinsky serves as President and Chief Operating Officer. For more information, visit www.hotelequities.com.
Hotel Development Partners, LLC (HDP) is an Atlanta-based joint venture formed by Hotel Equities and IRE Capital for the purpose of acquiring and developing premier-branded, select service hotels. HDP Investment Fund I, LLC is the investment vehicle which allows private investors to participate in institutional-quality hospitality properties. Principals of HDP are Frederick W. Cerrone, Allen T. O'Brien and Bob McCarthy. HDP also owns the 102-room Fairfield Inn & Suites, Charleston, SC and the 175-room Residence Inn, Surfside (Miami Beach), which will open in July of 2015.