The joint venture sold the 351-room property for $73.5 million, or $209,352 per room, to Arcadia-based real estate development company Kam Sang Co. Inc.
Rockwood and HEI bought the 1.76-acre site in 2014 for $51.6 million, or $147,429 per room, the Los Angeles Business Journal reported.
Built in 1982, the 19-story hotel at 100 W. Glenoaks Boulevard was last renovated in 2015.
Kam Sang owns several other hotels in Los Angeles including the 272-room Embassy Suites Glendale and the 195-room Courtyard Marriott in Baldwin Hills, according to Real Capital Analytics, which estimates the firm’s holdings at about $1.3 billion. [LABJ] — Subrina Hudson