California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Private Buyer Finds Value in Historic Courtyard San Diego Hotel
The 245-key Courtyard San Diego Downtown hotel recently sold for $64.5 million to a private buyer. The historic hotel is a 14-story building featuring a lobby restaurant, billiards room and 24-hour fitness center.
The property was originally built in 1927 as the San Diego Trust & Savings Bank. The property was converted to a hotel in 1999 and renovated in 2013. The hotel benefits from atypical Courtyard by Marriott design features such as the 32-foot-high ceilings in the grand lobby along with 35 imported marble columns. The hotel maintains nearly 4,800 square feet of meeting space including the Safe Deposit Room, boasting the original 47,000-pound Mosler Safe Company vault door from 1928.
Located at 530 Broadway, the hotel is near 10 million square feet of office space, Petco Park, the Gaslamp District, USS Midway Museum and the San Diego Convention Center.
JLL represented the seller, Hersha Hospitality Trust and secured the acquisition financing on behalf of the buyer.
- ◦Acquisition
