CBRE Hotels Arranges Two Hotel Sales in San Diego

Comfort Suites San Diego-Miramar and Holiday Inn Express San Diego-Mira Mesa Sold

Newport Beach, California – October 11, 2017 – CBRE Hotels has arranged the sale of the 132-room Comfort Suites San Diego-Miramar and the 75-room Holiday Inn Express San Diego-Mira Mesa for an undisclosed amount to Two Pack Hotel LP, an affiliate of Excel Hotel Group. 

Bob Kaplan, Rod Apodaca, and John Karver of CBRE Hotels acted as exclusive agents for the sellers, LLJ Ventures.

The Comfort Suites and Holiday Inn Express are adjacent hotels on 3.72 acres in the Mira Mesa/Scripps Ranch area in the northeastern part of San Diego; conveniently located along Interstate-15 (I-15) at Mira Mesa Boulevard. The Comfort Suites was built in 1987 and the new buyer is planning to implement an extensive renovation. The Holiday Inn Express was built in 2001 and recently underwent a Formula Blue refresh by the seller.  

According to Mr. Kaplan, “These well-located properties are exceptional value-add opportunities since the buyer will continue renovations and implement their management expertise.”

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.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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