#United States #Atlanta #Marriott #Monomoy Property #Axonic Capital

Major Acquisition Announcement in Atlanta

Monomoy Property Ventures, a prominent real estate investment firm focused on revamping high-value hospitality and mixed-use properties, along with Axonic Capital, renowned for its expertise in real estate investment management, has successfully acquired the property located at 590 West Peachtree Street in Atlanta. This strategic acquisition was officially announced on October 13, 2025, and is poised to bring significant changes to the local hospitality scene.

The partnership between Monomoy and Axonic aims to transform this property into a flagship Marriott Hotels establishment, which is Marriott International's full-service offering. As part of this exciting project, Monomoy will spearhead a comprehensive capital investment program in collaboration with a top-tier architect and design team.

The Future of Marriott Atlanta

Upon completion of the renovation, the new Marriott Atlanta is expected to debut in late 2027. Kevin Vaughan, Founder and Managing Partner of Monomoy, expressed his enthusiasm for this project, stating, "This venture aligns perfectly with Monomoy’s history of acquiring high-quality real estate in expanding markets with repositioning potential. We are excited about delivering exceptional results through major renovations and transforming it into The Marriott Atlanta."

Eric Sitman, Managing Director at Axonic Capital, shared similar sentiments, emphasizing the strategic significance of this acquisition. He remarked, "We believe this property is primed for transforming and rebranding, and we are thrilled to collaborate with Monomoy. Our commitment to maximizing the asset's performance is strong, and we are confident that Schulte Hospitality Group is the ideal partner for management."

Property Details and Planned Renovations

The existing property boasts 462 oversized guestrooms, with over 20% of these being suites equipped with full kitchenettes. The property also encompasses more than 30,000 square feet of prime meeting space. The planned renovation will not only upgrade guest rooms but also modernize public areas, ensuring a top-notch guest experience.

Amenities like the M-Club, new food and beverage concepts, and revitalized meeting and event spaces will all contribute to a more dynamic and appealing atmosphere, set against the backdrop of notable landmarks including Georgia Tech, Emory Hospital, and Mercedes-Benz Stadium.

The operational strategies of the hotel will be handled by Schulte Hospitality Group, effective immediately, who brings a wealth of experience in managing full-service hotels and implementing conversion projects. Sam Grabush, COO of Schulte, stated, "We are pleased to partner with Monomoy and Axonic on this strategically significant investment in Atlanta. Our experience in managing branded hotels will allow us to enhance the property's value, ensuring strong long-term returns on investment."

Architectural Leadership and Timeline

Selected to oversee the architectural aspects of the renovation is Cooper Carry, a respected name in architecture and design. The project is expected to begin construction in late 2026, following the World Cup festivities in Atlanta, with the grand reopening anticipated in late 2027, strategically timed in advance of Super Bowl LXII.

About the Companies

Monomoy Property Ventures is headquartered in New York and specializes in the acquisition and repositioning of hospitality and mixed-use assets across high-barrier urban and resort markets. Founded in 2020 by Kevin Vaughan, the firm aims to enhance neighborhoods and properties alike while offering attractive financial returns to its partners.

Axonic Capital, established in 2010, has carved out its niche in commercial real estate debt and equity, amassing over $6.5 billion in assets. Its strengths lie in providing financing solutions across major asset classes, with a focus on multifamily sectors.

Lastly, Schulte Hospitality Group, founded in 1999, expertly manages a diverse portfolio of over 240 hotels and hospitality ventures. Their commitment to delivering exceptional value and leadership sets them apart in the industry.

This acquisition is a significant move that forecasts a bright future for Atlanta's hospitality sector, ensuring a comprehensive, upgraded experience for both business and leisure travelers alike.