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California  + San Diego  + Hospitality  | 

Ashford Goes Under Contract to Sell Sorrento Mesa Hotel Property

Dallas-based Ashford Hospitality Trust has signed a definitive agreement to sell the 150-room Residence Inn San Diego Sorrento Mesa located in San Diego for $42 million or $280,000 per key to an undisclosed buyer. The sale is expected to be completed in October, subject to normal closing conditions. The REIT is providing no assurances that the sale will be completed on these terms or at all.

Excluding the anticipated capital spend of $16 million, the combined sale price represents a 7.9% cap rate on NOI or a multiple of 11.1 times Hotel EBITDA for the 12 months that ended July 31, 2025.

“The planned sale of the Residence Inn San Diego Sorrento Mesa reflects our ongoing strategy to opportunistically deleverage the portfolio while creating value for our shareholders,” said president and CEO Stephen Zsigray. “This transaction provides us with increased financial flexibility moving forward.”

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Ashford Hospitality Trust

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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