Acrophyte Hospitality Trust loses buyer for Norcross hotel

The sale was terminated on 10 August.

The proposed sale of Hyatt Place Atlanta Norcross Peachtree Corners (HPANPC) by Acrophyte Hospitality Trust has been terminated after the purchaser withdrew from the deal during its due diligence period.

The managers of the trust said the purchaser had, by written notice, elected to terminate the purchase and sale agreement for the hotel on 10 August 2026, US time. The due diligence period would have expired on 24 August 2026, the sixtieth day from the effective date of the agreement, during which the purchaser was entitled to terminate at its sole discretion.

As a result, the earnest money deposit of $127,965 (US$100,000) for the hotel has been refunded to the purchaser.

The termination relates to one of two hotels included in a divestment announced on 26 June 2026. The purchase and sale agreement for the other property, Hyatt Place Atlanta Alpharetta Windward Parkway (HPAAWP), remains in place.

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