Atlantic Beach Sheraton Has New Owners

It's official, the Sheraton Hotel property in Atlantic Beach has new owners.

The Newport Group from Augusta, Georgia became the owners of the 9-story beach front hotel this morning.

Foreclosure attorney Barry Mann tells WITN News that no upset bids were submitted for the hotel during the past 10 days. On December 12th, Newport bid $4.56 million for the property during an auction on the courthouse steps.

He says the deed transferring the property was recorded today at the Carteret County Courthouse.

Newport, which also owns the Hilton Riverfront in New Bern, says it plans to renovate and reopen the hotel by this coming summer.

The Sheraton has been closed since heavily damage by Hurricane Irene in 2011.