Park Hotels in deal to sell Hilton Garden Inn near LAX

Park Hotels and Resorts has struck a deal to sell one of its Hilton hotels near LAX, The Real Deal has learned.

The company is in contract to sell the 162-key Hilton Garden Inn at 2100 East Mariposa Avenue in El Segundo to a limited liability company with the same address as San Francisco-based DiNapoli Capital Partners, according to sources familiar with the deal.

Park Hotels has owned the property since 2000, before it was spun off from Hilton into a public real estate investment trust in 2017. Neither Park Hotels nor DiNapoli responded to requests for comment.

Aimbridge Hospitality currently manages the hotel, but the new owner will sign a new agreement with a different manager once the sale closes, which is expected to occur later this month, sources said.

DiNapoli Capital Partners invests in hotels, multifamily, office and senior housing properties on behalf of institutional investors and high net-worth individuals, according to its website.

The firm currently owns stakes in 10 hotels across the country, including the 230-key Embassy Suites Anaheim Orange, as well as the Kimpton Alton at 495 Beach Street in San Francisco. Property records show an entity linked to Artemis Real Estate Partners in Maryland also owns a stake in the Orange County hotel.

An entity linked to DiNapoli bought a stake in the San Francisco hotel for $44.8 million in 2018, property records show. Apollo Global Management also is tied to the entity, according to loan documents filed last year that are linked to the property.

In April, DiNapoli sold off a portfolio of more than 1,000 apartment units in Nevada, Arizona and New Mexico to Beverly Hills-based Kennedy Wilson for $418 million.