McKibbon Equities has acquired Courtyard Atlanta Buford Mall of Georgia in the US state of Georgia, from an affiliate of Hotel Equities.

Financial terms of the transaction, facilitated by Hunter Hotel Advisors, remain undisclosed.

HUNTER senior vice president David Perrin said: “We're pleased to have arranged the sale of an asset that was so close to home.

“Despite the difficult transaction landscape, it was a pleasure working with McKibbon and we look forward to seeing their plans unfold for this exceptional property.”

This acquisition marks the second investment for the McKibbon Income Fund I, which specialises in select-service and extended-stay hotels.

With a portfolio exceeding 100 hotels, McKibbon Hospitality will manage the operations of the newly acquired hotel.

The company further plans to renovate the 110-key property which is located off I-85, north-west of Atlanta.

The renovation of both guest rooms and public spaces will be undertaken by McKibbon Places, the company's dedicated construction and renovation division.

McKibbon senior vice president of acquisitions Matthew Ram said: “We’re excited to be expanding our footprint in the Atlanta Metro with the purchase of Courtyard Buford.

“It’s been a challenging transaction market over the last few years and we are pleased to have acquired a high-quality newer-vintage Courtyard at an attractive basis.”

Constructed in 2009, the five-storey hotel offers an on-site dining option known as The Bistro - Eat. Drink. Connect.

It also provides 580ft² of event space that can accommodate up to 37 guests, an indoor pool and a fitness centre.

This March, Hotel Equities was chosen by Beechwood Pinnacle Hotels to operate the AC Hotel by Marriott in Kansas City.