National Commercial Real Estate News From CoStar Group
Pebblebrook Hotel Trust Pays $112.5M for Embassy Suites San Diego Bay
Cornerstone Real Estate Advisors, Inc. sold the 13-story Embassy Suites San Diego Bay hotel at 601 Pacific Hwy in San Diego, CA to the Bethesda, MD-based Pebblebrook Hotel Trust REIT for $112 million, or about $334,000 per door.
The 337-suite, high-rise hotel is located on the San Diego Bayfront at Pacific Highway. It was built in 1988 and fully renovated in 2006, with nearly $3.5 million in upgrades completed in 2012. The hotel features a dramatic...