CBRE Hotels’ Fifth Southern California Hotel Transaction in the Last Three Months
San Diego, California – December 21, 2017 – CBRE Hotels arranged the sale of the 178-room Radisson Hotel San Diego-Rancho Bernardo, located at 11520 West Bernardo Court in San Diego, California for an undisclosed price. CBRE Hotels represented the seller, an affiliate of San Diego-based Pinnacle Hotels USA Inc., while the buyer, KASHL Corp, represented themselves. The buyer has selected RAR Hospitality to manage the hotel.
Opening in 1989, the three-story hotel sits on 3.61 acres and offers approximately 4,000 square feet of meeting space, an outdoor pool in an interior courtyard, and provides guests with food and beverage service through its C3 Restaurant and Bar.
Bob Kaplan and Rod Apodaca of CBRE Hotels acted as exclusive agents for the sellers. Additionally, Mr. Kaplan and Mr. Apodaca recently brokered the sales of the 207-room Comfort Suites and Holiday Inn Express San Diego-Mira Mesa, the 150-room Hyatt Place San Diego/Vista-Carlsbad, the 121-room Hampton Inn & Suites Santa Ana/Orange County Airport, and a long-term ground lease for a hotel development site in Orange, California.
According to Mr. Kaplan, “The Radisson’s excellent condition and broad customer base will allow the new owners to take over a performing investment property with the opportunity to expand the property’s operating performance. The property will continue to benefit from its excellent I-15 location which is proximate to numerous high-tech office and R&D companies, and its easy access to San Diego’s numerous leisure venues.”
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.