California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Rockpoint Buys Long Beach Hotel for $85M
Boston-based Rockpoint Group acquired the Westin Long Beach hotel for $84.8 million. The 16-story property was held by a venture that included pension fund Utah Retirement Systems, Atlanta-based Noble Investment Group and Boston-based AEW Capital Partners.
The full-service, 460-key hotel at 333 E. Ocean Blvd. is located near the Long Beach Convention & Entertainment Center. The asset had been acquired by the pension fund group in 2006 from Starwood Hotels & Resorts for $88.4 million.
The deal by Rockpoint puts to end a rumor the hotel was being sold to foreign investors. The Treasury Department was asked by Rep. Alan Lowenthal, D-Long Beach, to determine if that posed a national security risk, since the property is near the port of Long Beach.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


