Barry Hotel Partners and Starwood Capital Group Add Eco-Friendly Luxury Hotel to the Streets of Buckhead

Atlanta Location One of First in Southeast for 1 Hotel & Residences

Aug 03, 2007, 01:00 ET from Starwood Capital Group

    ATLANTA, Aug. 3 /PRNewswire/ -- Barry Hotel Partners, a division of
 Barry Real Estate Companies, and Starwood Capital Group will develop a 1
 Hotel & Residences as part of The Streets of Buckhead, the massive
 mixed-use development spearheaded by Atlanta-based Ben Carter Properties.
 The 1 Hotel, an eco-friendly luxury global hotel brand by Starwood Capital,
 will open its doors to the public in 2010, offering guests and residences
 an unmatched combination of environmentally sustainable architecture,
 luxurious comfort and impeccable service.
     (Logo: )
     "Atlanta has grown up a lot in the last several years and it's ready
 for the level of luxury shopping, dining, lodging and living that The
 Streets of Buckhead will offer," said Butch Ross, executive director and
 founding principal of Atlanta-based Barry Hotel Partners. "1 Hotel &
 Residences Atlanta -- Buckhead will bring a level of sophistication that
 has not been seen in Atlanta's hotel industry but has long been desired."
     Residents and guests of 1 Hotel & Residences Atlanta -- Buckhead will
 be treated to world-class restaurants, banquet services and spas. In
 addition, they will have access to a new concierge concept with
 unparalleled personalization to ensure all that is needed and most of what
 can be imagined will be provided effortlessly.
     "I am extremely pleased to bring our revolutionary hotel concept to a
 neighborhood that itself has undergone a tremendous renaissance the past
 several years," said Barry Sternlicht, Chairman and CEO of Starwood
 Capital. "Buckhead is a premier luxury location attracting some of the
 finest retailers and restaurants from around the world, making it a perfect
 fit for 1 Hotel and its unrivaled ability to combine exquisite living
 arrangements with an environmental conscience. Together with our very
 talented partners at Barry Hotel Partners, we look forward to delivering
 this truly unique living experience to guests and residents of Atlanta
     Consistent with its mission statement, the design-driven 1 Hotel &
 Residences will demonstrate that green principles can coexist and enhance a
 luxury hospitality experience and healthy residential lifestyle. The
 Natural Resources Defense Council (NRDC) has agreed to be an environmental
 advisor to 1 Hotel & Residences with the initial goal of setting a new
 standard for environmental excellence and, over time, to transform the
 entire hotel industry. The hotel will also donate one percent of its
 revenues to local environmental organizations.
     Barry Hotel Partners will develop 1 Hotel & Residences Atlanta --
 Buckhead on Peachtree Road at the Northeast intersection of Pharr Road. The
 project will feature 100 condominium residences, a 175-key hotel, a world
 class spa and a restaurant. Residents of the new condominium homes will
 have full access to the hotel services. The hotel will break ground in
 mid-2008 and open in 2010.
     As with all 1 branded projects, 1 Hotel & Residences Atlanta --
 Buckhead will be LEED-certified. The LEED rating system was created by the
 U.S. Green Building Council and is the nationally accepted benchmark for
 the design, construction and operation of high performance green buildings.
     Barry Hotel Partners, formed earlier this year, is a full-service hotel
 developer focusing on boutique, four-- and --five star hotel brands. In
 addition to leveraging key properties owned by Barry Real Estate, the new
 entity will seek other development opportunities. Joining the new division
 is veteran hotel developer David Edwards, as senior director of design and
     "It was a missing link in Barry Real Estate's business model," said
 Chris Schoen, CEO of Barry Real Estate Cos. "As a full-service real estate
 company, Barry Real Estate can now execute any portion of a mixed-use
 project, including hotels."
     1 Hotel & Residences, the world's first "green" global luxury hotel
 brand, was created by Mr. Sternlicht, who is widely credited with
 revolutionizing the hotel industry by creating such concepts as the W
 Hotels brand and the Westin Heavenly Bed brand of products while he was
 Chairman and CEO of Starwood Hotels and Resorts. The first hotel for the
 chain is under construction in Seattle. Other sites announced include New
 York, Washington, D.C., Paris, Scottsdale, Ariz., Mammoth Lakes, Calif.,
 and Ft. Lauderdale, Fla.
     The Streets of Buckhead will be an 800,000 square foot, mixed-use
 community in the heart of the former Buckhead Village area. The
 high-profile development will transform eight acres -- bordered by Pharr
 Road on the south, Peachtree Road on the West, and East Paces Ferry Road on
 the north, and North Fulton Avenue on the east -- into a charming and
 walkable streetscape offering upscale boutiques, tony restaurants and
 sidewalk cafes. Upon completion, The Streets of Buckhead will feature more
 than 500,000 square feet of retail and restaurant space, most of which is
 dedicated to internationally celebrated luxury and lifestyle brands; four
 world-class hotels, up to 1,000 luxury residential units and more than
 300,000 square feet of class A office space.
     About Barry Hotel Partners
     Formed in mid-2007, Barry Hotel Partners is a division of Barry Real
 Estate Cos. Barry Hotel Partners is a full service hotel developer focusing
 on boutique, four-- and --five star hotel brands. In addition to leveraging
 key properties owned by Barry Real Estate, the new entity will seek other
 development opportunities. Barry Real Estate, founded in 1995 by Hal Barry
 and Chris Schoen, is a full-service commercial real estate firm
 specializing in office, hotel and mixed-use development, marketing and
 management. Barry Real Estate Cos. has established a niche in the
 constantly changing real estate marketplace by operating under a
 tenant-driven development and service-oriented strategy. For more
 information, please visit
     About Starwood Capital Group Global LLC
     Starwood Capital Group Global, LLC is a privately-held global real
 estate investment firm based in Greenwich, CT (with its predecessor
 Starwood affiliates "Starwood"). Founded in 1991, Starwood specializes in
 the creation and acquisition of real estate-related investments on behalf
 of commingled investment funds that are sponsored and created by Starwood
 or its affiliated entities. Such real estate-related investments include
 residential and commercial land development, multifamily, hotel, office,
 retail, mixed use, industrial, health clubs, golf and mezzanine debt.
 Starwood's clients include public and private retirement programs,
 university endowments, foundations, international and high net worth
     During the past fifteen years, Starwood and its affiliates have
 invested approximately $6 billion of equity capital in transactions
 representing over $30 billion of asset value on behalf the funds. Starwood
 has advised on and/or closed on behalf of its funds over 215 transactions
 ranging in size from $1 million to $14.6 billion. Recent transactions by
 its affiliated funds include the $3.2 billion acquisition of Groupe
 Taittinger and Societe du Louvre, Europe's second largest hotel network
 with a unique collection of 14 luxury hotels in Europe, including France
 and Switzerland, in addition to managing over 800 budget hotels throughout
 Europe. Starwood, on behalf of its affiliated funds, has led the formation
 and/or growth of several market leading companies including iStar
 Financial, the leading publicly traded finance company specializing in
 commercial real estate mortgage, mezzanine and net lease financing;
 Starwood Hotels & Resorts Worldwide, a leading global owner/operator of
 hotels, Westin Hotels & Resorts (through a 50/50 partnership with Goldman,
 Sachs & Co.) which was merged into Starwood Hotels & Resorts Worldwide in
 January 1998, and Equity Residential Properties Trust, one of the premier
 US multifamily REITs; and National Golf Properties, Inc., who, together
 with its private sister company, owned, leased or managed 255 golf courses.
     About Ben Carter Properties
     Founded in 1993, Ben Carter Properties is an Atlanta-based,
 full-service commercial real estate firm which specializes in retail,
 office and mixed-use projects throughout the Southeast. Over its history,
 the company has developed over $1 billion in real estate projects.
 Currently the company has $2 billion in new projects in development, with
 planned openings by 2010. The Ben Carter Properties team of experts focuses
 on four distinct areas of real estate services: development, asset
 management, leasing and brokerage. For information, please visit

SOURCE Starwood Capital Group