Hilton’s DoubleTree in Santa Monica trades for $154M

Hilton’s active year continues in Southern California

Oct.October 04, 2018 05:00 PM
The DoubleTree Suites by Hilton in Santa Monica sold for $154 million – or nearly $608,700 per room (Credit: Google Maps)

It’s been a busy year for Hilton hotel trades in Southern California.

In the latest deal involving the hotel giant, Canada-based hotelier Westmont Hospitality Group and New York-based real estate firm Square Mile Capital Management purchased a 253-room DoubleTree Suites hotel in Santa Monica for $154 million.

At 206,000 square feet, the sale translates to nearly $608,700 per room.

Pennsylvania-based Merion Realty Partners and Rhode Island-based Procaccianti Cos. were the sellers of the eight-story building at 1707 4th St.

The deal, which closed Sept. 28, also included about 32,000 square feet of office space and less than 10 apartments, according to the Los Angeles Business Journal, which reported the news first.

Earlier this year, Woodbine Development Corp. paid $152 million for a DoubleTree hotel in Culver City. Next year, a new Hilton is slated to open in Inglewood.

Natalie Hoberman contributed reporting.

Related Article

Lightstone’s Eugene Rozovsky, Neil Shekhter and a rendering of 1650 Lincoln Boulevard

Lightstone provides $44M loan to Shekhter-owned WS Communities

Aerial view of 611 N. Brand Boulevard and Rossano de Cottiis (Credit: Hunter Kerhart Architectural Photography)

Onni scraps apartment plans for 857-key hotel project in Glendale

Pierce Brosnan and his new home in Santa Monica

“The world is not enough,” but for one former James Bond this Santa Monica pad is

A rendering of the proposed hotel project on Whitley Street (Credit: Daryoush Safai)

Reservations: Hollywood hotel project faces appeal from rent control tenants

Witkoff Group’s Steve Witkoff and a rendering of the project at 500 Broadway

Witkoff Group snags construction loan for Santa Monica luxury development

Universal Music Group CEO Lucian Grainge and a rendering of Colorado Campus Building B

Universal Music Group is expanding footprint at Colorado Campus office complex: sources

Starwood Capital Group CEO Barry Sternlicht and Lantana campus (Credit: Getty Images and Ehrlich Yanai Rhee Chaney Architects)

Starwood Capital set to buy part of Lantana office campus for $220M: sources

Atlas Hospitality Group president Alan X. Reay and Downtown Los Angeles, with construction development rising above the L.A. Convention Center at the right (Credit: Wikimedia)

Keyed up: LA’s hotel development outpacing the rest of California