CBRE Hotels has arranged the sale of the 150-room Hyatt Place hotel at 2645 South Melrose Drive in Vista, California for an undisclosed price. CBRE Hotels represented the seller, an affiliate of Irvine-based CoreCapital, who had purchased the hotel in 2014. Brighton Management, the self-represented buyer, will also manage the hotel.
The four-story hotel that opened in 2012 offers approximately 1,200 square feet of meeting space, and provides food and beverage service through its 24/7 Guest Kitchen, Gallery Market and Bakery Café.
Rod Apodaca and Bob Kaplan of CBRE Hotels acted as exclusive agents for the sellers.
According to Mr. Apodaca, “Vista/Carlsbad is an underappreciated market and the hotel’s location, desirable brand, quality construction/design and upside potential made it an exceptional acquisition opportunity.”
Located against rolling hills and just minutes from the Pacific coast, the property is conveniently located near McClellan-Palomar Airport, LEGOLAND and is surrounded by more than 33 million square feet of office and industrial space throughout Vista, Carlsbad rel="noopener noreferrer" and the San Marcos market rel="noopener noreferrer" area.
CBRE Hotels is a specialized team within CBRE, providing advisory, capital markets, investment sales, research and valuation services to companies in the hotel sector. CBRE Hotels is comprised of more than 385 dedicated hospitality professionals located in 60 offices across the globe.
The four-story hotel that opened in 2012 offers approximately 1,200 square feet of meeting space, and provides food and beverage service through its 24/7 Guest Kitchen, Gallery Market and Bakery Café.
Rod Apodaca and Bob Kaplan of CBRE Hotels acted as exclusive agents for the sellers.
According to Mr. Apodaca, “Vista/Carlsbad is an underappreciated market and the hotel’s location, desirable brand, quality construction/design and upside potential made it an exceptional acquisition opportunity.”
Located against rolling hills and just minutes from the Pacific coast, the property is conveniently located near McClellan-Palomar Airport, LEGOLAND and is surrounded by more than 33 million square feet of office and industrial space throughout Vista, Carlsbad rel="noopener noreferrer" and the San Marcos market rel="noopener noreferrer" area.
CBRE Hotels is a specialized team within CBRE, providing advisory, capital markets, investment sales, research and valuation services to companies in the hotel sector. CBRE Hotels is comprised of more than 385 dedicated hospitality professionals located in 60 offices across the globe.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
