The 216-room DoubleTree by Hilton Hotel LAX in El Segundo was recently sold for almost $54.1 million, or $110,500 per room, according to CoStar data.
Umbrella Hotel Group purchased the seven-story, full-service hotel, at 1985 E. Grand Ave., from joint venture sellers Pennsylvania-based Argosy Real Estate Partners and San Clemente-based Evolution Hospitality, according to Century City-based Holliday Fenoglio Fowler, which brokered the sale. HFF said it arranged a mezzanine loan with Seattle-based Washington Holdings for about seven years.
The 110,868-square-foot DoubleTree is the only full-service hotel in El Segundo, HFF said, featuring a junior Olympic-sized, heated outdoor pool, along with 3,238 square feet of indoor meeting space and other amenities.
Editor's Note: This story has been updated to correct the sale price of the property, which CoStar had listed incorrectly.
Real estate reporter Neil Nisperos can be reached at firstname.lastname@example.org. Follow him on Twitter @ReporterNeil for the latest in L.A. real estate news.
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