Two of the 10 biggest hotel transactions in the U.S. this year involved L.A. properties, according to a list published yesterday on Santa Barbara real estate technology firm Yardi Systems Inc.’s blog Commercial Café.
Both sales were of Hollywood hotels.
The $280 million sale of the 286-room James in West Hollywood, now known as the Jeremy West Hollywood, by CIM Group to Starwood Capital in July came in No. 6 on the list of the twenty biggest sales by sale price.
The $219 million sale of the 305-room W Hollywood in March by HEI Hotels and Resorts and Gatehouse Capital to Host Hotels and Resorts made eighth place.
The biggest deal of the year as of Nov. 27 was the $600 million sale of the unfinished Fontainebleau Las Vegas in August by Icahn NV Gaming Acquisition to Witkoff and New Valley.
Retail, restaurants and hospitality reporter Caroline Anderson can be reached at firstname.lastname@example.org. Follow her on Twitter @caroline_mander.
You May Also Like
- L.A. County Hotel Sales Hits Record High of $1.67 Billion
- News Briefs - December 18, 2017
- CIM Group Sells New Sunset Strip Hotel to Starwood Capital Group
- Hotel Books New Owner
- Long Beach Hotel Finds Buyer for $84.8 Million
- DineEquity Inc. to Close More Than 100 Applebee’s Restaurants
- Bankruptcy Court Approves Sale of Nasty Gal
- Available Hotel Rooms Near L.A. Convention Center Doubled in Last Five Years