Monomoy Property Ventures and Axonic Capital Acquire 590 West Peachtree Street in Atlanta; Plans Conversion to Flagship Marriott Brand

ATLANTA, Oct. 13, 2025 /PRNewswire/ -- Monomoy Property Ventures ("Monomoy"), a real estate investment firm focused on redeveloping high-value hospitality and mixed-use assets, and Axonic Capital, a real estate-focused investment manager, announced the acquisition 590 West Peachtree Street in Atlanta. The property will soon undergo a substantial capital investment program led by Monomoy in partnership with a best-in-class architect and design team, and be repositioned under the Marriott Hotels brand, Marriott International's flagship full-service offering. Monomoy and Axonic have selected Schulte Hospitality Group as the property management company.

"This project aligns with Monomoy's track record of acquiring high quality real estate in growing markets with creative repositioning potential," said Kevin Vaughan, Founder and Managing Partner of Monomoy. "Through a major renovation and conversion to The Marriott Atlanta, we are excited to create a strong product-market fit for the Atlanta traveler and deliver attractive outcomes for our partnership."

"We are thrilled to partner with Monomoy to acquire this strategic asset that is primed for a repositioning and rebranding," said Eric Sitman, Managing Director at Axonic Capital. "We think post-renovation we will have a highly compelling offering for this market at an exceptional basis and believe strongly that Schulte is the right hotel manager to maximize performance."

The property currently features 462 oversized guestrooms, including more than 20% suites with full kitchenettes, and over 30,000 SF of market leading meeting space. Following the renovation and conversion, the rebranded Marriott Atlanta will join Marriott's Bonvoy loyalty program and offer upgraded guestrooms, modernized public areas, a best-in-class "M-Club", new food and beverage concepts, and revitalized meeting and event space overlooking Georgia Tech, Emory Hospital, Mercedes-Benz Stadium and the broader Atlanta central business district. Schulte Hospitality Group will assume responsibility for operations and commercial strategy effective immediately.

"We are pleased to partner with Monomoy and Axonic on this strategically significant Atlanta investment," said Sam Grabush, chief operating officer of Schulte Hospitality Group. "Schulte's track record in full-service branded hotels, conversion and repositioning projects allows us to bring operational expertise that maximizes asset value. Together, we will elevate the property's performance profile, drive long-term ROI and strengthen its positioning as the premier full-service Marriott asset in the Atlanta market."

The renovation scope will include comprehensive upgrades across guestrooms, suites and public areas, as well as modernization of back-of-house systems to enhance operational efficiency and ensure compliance with Marriott's brand standards. Cooper Carry has been selected as the project's architect, overseeing all architect, design and engineering. Construction is expected to commence in late 2026 following the World Cup in Atlanta, with a reopening targeted for late 2027 ahead of Superbowl LXII in Atlanta.

About Monomoy Property Ventures
Monomoy Property Ventures is a New York-based real estate investment, development, and management firm focused on acquiring and repositioning hospitality and mixed use assets in high-barrier urban and resort markets. Monomoy purchases land parcels and existing buildings in enduring locations in select resort and urban markets in the Eastern United States. Through physical and operational repositioning or ground-up construction, Monomoy seeks to improve buildings, destinations, neighborhoods and the built environment while providing attractive financial returns to its investment partners. Monomoy was founded in 2020 by Kevin Vaughan. For more information, please visit www.monomoypropertyventures.com.

About Axonic Capital

Founded in 2010, Axonic Capital is a New York–based investment manager with over $6.5 billion in assets under management. The firm has deep expertise in commercial real estate debt and equity, providing financing solutions across all major asset classes throughout the United States, with a focus on the multifamily sector. Axonic's flexible capital base includes private limited partnerships, separate accounts, insurance company mandates, and publicly listed fund structures. For additional information, visit axoniccap.com.

About Schulte Hospitality Group
Schulte Hospitality Group is a premier hospitality management and development company, overseeing a global portfolio of more than 240 hotels, restaurants, and other related hospitality ventures with a team of over 10,000 team members. Founded in 1999 by generations of passionate hoteliers, Schulte is one of the industry's most respected full-service operators, with a diverse portfolio spanning leading brands like Marriott, Hilton, IHG, Hyatt, and Graduate Hotels, as well as distinctive luxury, boutique, and independent resorts. Headquartered in Louisville, KY and with an office in London, Schulte is known for providing high-touch client service, delivering data-driven top line and bottom-line results to owners, and developing leaders on property teams. For more information, visit www.schultehospitality.com.

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SOURCE Monomoy Property Ventures & Axonic Capital