Woodbine Claims Culver City Hotel for $152M
Dallas-based Woodbine Development acquired the 375-room DoubleTree by Hilton Hotel in Culver City, CA from Washington, D.C.-based Carlyle Group for $151.5 million. The three-star property encompasses a 255,000-square-foot hotel and two acres of land at 6161 W. Centinela Ave.
The 12-story hotel is adjacent to the 405 and 90 freeway interchange, and near Los Angeles’ Playa Vista and Westchester neighborhoods. Built in 1974, the hotel property also has 1,400 surface parking spaces.
Eastdil Secured’s Patrick Deming and Andrew Holt represented the seller. The buyer was self-represented.
Woodbine’s hotel portfolio is mainly concentrated in Texas, though in California it owns the 175-room Marriott-branded AC Hotel Irvine, the observation deck on the U.S. Bank Tower in DTLA ,and the Hilton Pasadena.
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