Posts Tagged ‘alanreay’

Opinions Vary on Impact of Banks Collapsing PACE Financing an Opportunity for Some LOS ANGELES — The state of the financial markets and lending have been hot-button topics in the hospitality industry after three regional U.S. banks collapsed over the past three months. Lenders and hospitality executives at the 2023 Meet the Money national hotel…

OAKLAND — The Claremont Club & Spa, an iconic hotel perched in the hills on the Oakland and Berkeley border, has been bought by a Bay Area real estate developer in a deal that tops $160 million. The hotel, part of the Fairmont chain, was bought for about $163.3 million, according to documents filed on…

Blackstone nears $950M refi on Hotel del Coronado in San Diego Barclays leading CMBS deal on 1880s hotel Blackstone is nearing a $950 million deal to refinance its historic Hotel del Coronado in San Diego, The Real Deal has learned.  Barclays is leading a commercial mortgage-backed securities package that will be backed solely by the 757-key hotel,…

Several new liquor license applications related to the 276-room hotel, 41 Tunnel Road in Berkeley, indicate that Redwood City-based developer and investor Ohana Real Estate is in the process of acquiring the hotel. The luxury Fairmont Hotel chain and financier Richard Blum, the late husband of Sen. Dianne Feinstein, bought the hotel nearly a decade…

Redwood City investor pays unknown price for the 276-room property appraised at $183 million MAY 10, 2023, 11:38 AMBy TRD Staff Ohana Real Estate is buying the 108-year-old Claremont Hotel & Spa, which straddles Berkeley and Oakland.  The Redwood City-based investor is acquiring the 276-room hotel at 41 Tunnel Road in Claremont, the San Francisco Business Times…

CHERYL SARFATYTHE NORTH BAY BUSINESS JOURNALMarch 21, 2023 After a strong first half of 2022, California hotel sales in the second half of the year were predicted to show a large drop because of increased interest rates and economic uncertainties. But according to a report by Atlas Hospitality Group, a Newport Beach-based commercial real estate firm…

Transaction aligns with declining hotel room values San Francisco / September 16, 2022 08:30 AMBy Pawan Naidu | Research By Christian Bautista and Caysey Welton Hotels aren’t worth what they used to be, but they’re still worth a lot. A Residence Inn hotel in an East Bay suburb sold for $28.5 million, or $226,000 per room, according to public records. Despite the somewhat…

Hotel purchases show weakness during first half of 2022 By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: September 12, 2022 at 1:30 p.m. | UPDATED: September 13, 2022 at 4:56 a.m. The Bay Area market for hotel purchases slumped during the first half of 2022 compared to the same period the year before amid inflation woes and fast-rising interest…

HOSPITALITY: Hotel Transactions Cooling Off in 2022 BY KAREN PEARLMAN | SEPTEMBER 2, 2022 After a record-breaking 2021 for hotel sales in California, including the highest number of individual hotel sales and total dollar volume sales in San Diego County, hotel transactions have cooled off in the state and region in the first six months…

Focus shifts to luxury properties even as cost for capital climbs Los Angeles Archive / August 18, 2022 02:30 PMBy Isabella Farr If you’re looking to buy a hotel in California, expect to pay a record median price per room. The median price for a hotel per room hit $143,400 in the first half of this year — up 13…

Occupancy runs 75%, up 6 percentage points over 12 months By JONATHAN LANSNER | jlansner@scng.com | Orange County RegisterPUBLISHED: August 13, 2022 at 7:24 a.m. | UPDATED: September 1, 2022 at 10:35 a.m. ”Survey says” looks at various rankings and scorecards judging geographic locations while noting these grades are best seen as a mix of artful interpretation and data. Buzz: Hotel room rates…

Biotech-Focused IQHQ Buys San Diego Hyatt Regency in Rare Hospitality Acquisition (costar.com) Deal Comes After Growing Life Science REIT’s $200 Million Office Purchase in Same Mixed-Use Complex By Lou Hirsh | CoStar NewsAugust 10, 2022 | 1:02 P.M. Biotech-focused IQHQ has made a rare hospitality purchase, acquiring the upscale Hyatt Regency La Jolla at Aventine hotel in San Diego for more…