A historic building in downtown Atlanta that had been slated for use as a Sonder-branded hotel and apartments has been listed for sale through bankruptcy court.
The W.D. Grant Building at 44 Broad St. was listed for sale last week by Hilco Global with an undisclosed asking price. The sales listing touts the 10-story building’s historic value, its notable architecture and location in a prime spot in downtown Atlanta. The building’s owners, a joint venture between the Texas firms Wolfe Investments and Bluelofts, filed for bankruptcy in October in U.S. Bankruptcy Court for the Northern District of Georgia.
The owners, which operate under the name New Grant Acquisitions, had previously started a renovation and conversion of the Grant Building’s top seven floors to hybrid apartments/hotel rooms with offices and retail space on the lower floors, according to a court document. The renovated rooms were to be managed and operated by Sonder, a hospitality company that collapsed in November after financial problems.
New Grant Acquisitions had obtained a $36.5 million loan in December 2022 from UC Grant Building Holder, an affiliate of Boston-based UC Funds, and another lender to finance the Grant Building’s renovation and conversion. However, the renovation projected was halted in February 2024 and owners stopped making loan payments, according to a court document filed by UC Grant Building Holder.
UC Grant Building Holder, the largest lender, pursued a foreclosure sale of the Grant Building last year after New Grant Acquisitions stopped paying its loan. UC Grant Building Holder was unable to start the process of conducting a foreclosure sale, according to court filings.
UC Grant Building Holder said in court filings it opposes the Hilco Global-led sales listing, saying that it never agreed to the terms of the listing. UC Grant Building Holder also argues that the sales listing, as currently structured, would primarily benefit Bush Construction, the debtor-in-possession lender.
Hilco Global said that if the Grant Building is sold, the new owners could qualify for historic tax credits for a renovation project. The Grant Building opened in 1898 and was listed on the National Register of Historic Places in 1979.
“The building has been partially gutted and prepped for a full interior build-out, creating a rare opportunity to reimagine an architecturally significant structure for modern use,” Hilco Global said in a news release. “With its large floor plates, high ceilings and abundant window lines, the property is ideally suited for boutique hospitality, residential or mixed-use redevelopment, including ground-floor retail and food-and-beverage concepts.”
Sonder was established in 2014 to lease, operate and manage units in hotels and apartment buildings by listing them for rent through its own online platform and through Airbnb. For most of its locations, Sonder signed master leases with apartment and hotel owners.
Sonder and Marriott International formed a 20-year licensing partnership in August 2024, although Marriott ended the agreement in November 2025.
For the record
Keith Worsham, Jeff Hubbard and Weston Worsham at Hilco Global represent New Grant Acquisitions on the sales listing and Scroggins, Williamson & Ray is legal counsel. John Farrell at Colliers is providing valuation services to the debtor.