ATLANTA-Cascade Investment, the private investment firm owned by entrepreneur Bill Gates, purchased the Four Seasons Hotel Atlanta from Host Hotels & Resorts, which has owned the property since 1998.
Financial terms of the transaction were not disclosed.
This marks Cascade's second Four Seasons acquisition in recent weeks.
The transaction includes the acquisition of 99,000 sq. ft. of office space in the 54-story tower, of which the hotel occupies the first 19 floors.
The hotel will continue to be managed by Toronto-based Four Seasons Hotels and Resorts, which is owned jointly by long-term shareholders Cascade Investment, Kingdom Holding Co. and Triples Holdings.
Opened in 1997, the 244-key hotel, which includes 18 suites, offers a 7,790-sq.-ft. spa and fitness center, two restaurants and an atrium lobby with a marble staircase and European-style furnishings.
The property is less than one mile from demand generators that include the High Museum of Art, Piedmont Park, Botanical Garden and Fox Theatre.
