CRESCENT ANNOUNCES SUCCESSFUL SALE OF THE HOTEL AT AVALON

FORT WORTH, Texas, Sept. 25, 2026 /PRNewswire/ -- Crescent Real Estate LLC ("Crescent") is pleased to announce the successful sale of The Hotel at Avalon, a 330-room luxury hotel located within Avalon, Alpharetta's award-winning mixed-use destination.

Acquired in September 2020 amid unprecedented uncertainty across the hospitality industry, The Hotel at Avalon represented a high-conviction investment in a superior hotel at a time when many investors remained focused on the near-term disruption caused by the COVID-19 pandemic. Crescent recognized the opportunity to acquire a premier hotel at an attractive basis, supported by the long-term strength of the asset, its location, and the broader Avalon ecosystem.

Opened in 2018, The Hotel at Avalon serves as the hospitality anchor of Avalon, one of the Southeast's premier mixed-use destinations featuring luxury retail, dining, office, residential, and entertainment offerings. As the only hotel within the development, the property occupies an irreplaceable position within one of the region's most successful live-work-play environments.

"In the fall of 2020, very few investors were willing to lean into hospitality. We believed The Hotel at Avalon was a truly irreplaceable asset located within one of the country's premier mixed-use communities, and we were able to acquire it at a basis that reflected a moment of extraordinary market uncertainty," said Christopher Goff, Senior Managing Director and Head of Capital Formation at Crescent Real Estate. "That combination of conviction, disciplined underwriting, and strong execution by our team and partners produced a great outcome for our investors, fully validating our original investment conviction."

Throughout Crescent's ownership, the hotel benefited from the recovery of the lodging sector and the continued growth of the Avalon community, further validating the original investment thesis. The property's exceptional quality, market-leading performance, and irreplaceable position within Avalon attracted significant investor interest, culminating in one of the most notable hotel transactions in the Atlanta market in recent years.

"The Hotel at Avalon has consistently distinguished itself as one of the premier hotels in the Southeast," said Troy Furbay, Managing Director and Head of Hospitality at Crescent Real Estate. "The strength of the property, the Avalon ecosystem, and the great work of Crescent's team alongside HEI Hotels & Resorts positioned the hotel for sustained success throughout our ownership and ultimately drove significant interest from the investment community."

The successful disposition reflects Crescent's ability to identify high-quality opportunities during periods of market dislocation, invest with conviction, and create value through disciplined ownership and active asset management.

We extend our sincere appreciation to our capital partners for their trust and support throughout the investment. We also thank HEI Hotels & Resorts for their strong stewardship of the property and Eastdil Secured for their professionalism and guidance throughout the disposition process.

Crescent is proud to have owned and stewarded The Hotel at Avalon and wishes the new ownership team continued success. This investment is not necessarily representative of all Crescent investments.

ABOUT CRESCENT
Crescent Real Estate LLC (Crescent) is a real estate operating company and investment advisor, founded by Chairman John C. Goff, with assets under management, development, and investment capacity of more than $10 billion. Through the GP Invitation Funds, Crescent acquires, develops and operates all real estate asset classes alongside institutional investors and high net worth clients. Crescent's premier real estate portfolio consists of Class A, creative office and life sciences, multifamily, hospitality, industrial, and senior living assets located throughout the U.S. For more information, visit www.crescent.com. 

SOURCE Crescent Real Estate