Atlas In The News

https://www.bisnow.com/los-angeles/news/hotel/los-angeles-hotels-pandemic-rebound-108471 April 9, 2021 Bianca Barragán, Bisnow Southern California  The team marketing the Mart South hotel redevelopment in Downtown LA’s Fashion District noticed earlier this year that there was a big increase in interest in the property, a former office building entitled for hotel conversion. In fall 2020, the property was averaging about three inquiries a month, but…

https://www.mercurynews.com/2021/04/02/real-estate-upscale-menlo-park-hotel-seized-foreclosure-covid/ Boutique Menlo Park hotel in default on mortgage is auctioned off By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: April 2, 2021 at 5:45 a.m. | UPDATED: April 2, 2021 at 4:23 p.m. MENLO PARK — An upscale Menlo Park hotel whose owners had defaulted on a property loan has been seized through foreclosure of its loan, a…

  By Renata Geraldo  –  Data ReporterSacramento Business Journal Apr 1, 2021, 3:14pm EDT The cities of Sacramento and West Sacramento paid a total of almost $5 million above appraised market values for two motels they acquired under the Homekey program, a $600 million statewide project to purchase motels and convert them into housing for unhoused people….

https://www.eastbaytimes.com/2021/03/31/downtown-oakland-moxy-hotel-complete-construct-open-real-estate-covid/ Opportunity zone tax breaks bolster Oakland hotel’s development By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 31, 2021 at 12:09 p.m. | UPDATED: April 1, 2021 at 4:39 p.m. OAKLAND — Downtown Oakland’s bustling Uptown District is about to get a new Moxy Hotel, a welcome change of pace to a dismal year of coronavirus-linked business…

Multifamily, Senior Living, Student Housing Among More Popular Conversions https://www.costar.com/article/577844466?utm_source=newsletter&utm_medium=email&utm_campaign=hospitality_prospect&utm_content=p1 By Bryan Wroten Hotel News Now Mar 24, 2021 | 1:09 P.M. Both private and government buyers are finding real estate conversion opportunities with U.S. hotel owners who are reevaluating the highest and best use of their properties due to the COVID-19 pandemic. Buyers and other…

Court sets May schedule for sale of 15 hotels, including two in Bay Area https://www.mercurynews.com/2021/03/25/real-estate-bankrupt-bay-area-hotel-auction-covid-queen-mary/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 25, 2021 at 6:20 a.m. | UPDATED: March 25, 2021 at 10:14 a.m. SAN JOSE — A bankrupt hotel chain has won court approval for the sale of more than a dozen U.S. hotels,…

Fairmont was nearly empty during worst of the coronavirus outbreak: court papers https://www.mercurynews.com/2021/03/24/fairmont-san-jose-hotel-owner-swift-bankruptcy-case-real-estate-covid/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 24, 2021 at 5:45 a.m. | UPDATED: March 24, 2021 at 2:36 p.m. SAN JOSE — The Fairmont San Jose owners have sketched out a swift endgame for the iconic hotel’s bankruptcy case in the first version…

https://www.sdbj.com/news/2021/mar/10/local-hotel-market-recovering/ By Ray Huard Wednesday, March 10, 2021 Investors are starting to take a renewed interest in San Diego County hotels with industry experts predicting that 2021 will be a year of strong recovery. “There’s definitely been a change in how buyers look at hotels and I would say the one word that sums it up…

https://www.pacificsandiego.com/latest/story/2021-03-18/its-official-lafayette-hotel-sold-for-25-8m Prolific restaurant group known for Little Italy dining venues is the buyer of the historic El Cajon Boulevard property By LORI WEISBERG SAN DIEGO UNION-TRIBUNE MARCH 18, 2021 7:29 PM PT The historic Lafayette hotel, a North Park landmark that dates to the 1940s, has been sold to a local restaurant group for $25.8 million. The…

Local hotels being auctioned off are part of $470 million sales package https://www.mercurynews.com/2021/03/11/real-estate-bay-area-hotels-bankruptcy-auction-block-covid-travel/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 11, 2021 at 5:45 a.m. | UPDATED: March 11, 2021 at 4:25 p.m. SAN JOSE — Two hotels in the Bay Area, one in the South Bay and the other on the Peninsula, are part of a…

Fairmont San Jose owners seek favorable financing, improved management, new brand through bankruptcy https://www.mercurynews.com/2021/03/08/bankrupt-fairmont-hotel-spur-downtown-san-jose-rebound-covid-tourism/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 8, 2021 at 9:26 a.m. | UPDATED: March 9, 2021 at 8:30 a.m. SAN JOSE — Once it emerges from bankruptcy, downtown San Jose’s iconic Fairmont Hotel could help fuel a rebound in the city’s urban…