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 email@example.com. Follow her on Twitter @caroline_mander.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- News Briefs - December 18, 2017
- L.A. County Hotel Sales Hits Record High of $1.67 Billion
- CIM Group Sells New Sunset Strip Hotel to Starwood Capital Group
- Long Beach Hotel Finds Buyer for $84.8 Million
- Hotel Books New Owner
- Available Hotel Rooms Near L.A. Convention Center Doubled in Last Five Years
- Bankruptcy Court Approves Sale of Nasty Gal
- Hotel Happy Rivals Checking in to Hollywood