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By Lori
Weisberg, The
San Diego
Union-Tribune September 11, 2012  The Hilton Del Mar is being sold by Sunstone Hotel Investors, which previously owned the W hotel in downtown San Diego. — Courtesy of Hilton Del Mar Hotel sales in San Diego County are once again picking up, with announcements that two high-profile coastal hotels — one in Del Mar and the other on Mission Bay — have been sold. The 257-room Hilton Del Mar is being sold as part of a three-hotel package valued at $107.1 million, and in a separate transaction, the 429-room Hyatt Regency Mission Bay Spa and Marina has been sold for $62 million. Previously known as the Hyatt Islandia, the Hyatt Regency is a leasehold on Mission Bay formerly owned by KenCal Ownership Corp. Orange County-based Sunstone Hotel Investors, which owns the Del Mar property, has been shedding some of its lesser-performing suburban lodging holdings while at the same time acquiring more-prominent urban hotels. The real estate investment trust recently completed the sale of a fourth hotel, the Marriott Del Mar, which sold for $66 million, and last year spent $475 million to acquire a 75 percent stake in the San Diego Bayfront Hilton. The REIT formerly owned the tony W hotel in downtown San Diego but walked away from the property after deciding it was worth far less than what was owed. For the rest of the story please visit:http://www.utsandiego.com/news/2012/sep/10/two-major-hotels-in-del-mar-mission-bay-sold/ |
| Contact: Lori Weisberg, Staff Writer San Diego Union-Tribune 350 Camino de la Reina San Diego, CA 92102 619-293-2251 [email protected] |