SAN DIEGO-HEI Hotels and Resorts, a private equity firm based in Connecticut, has purchased the La Jolla Marriott, a 360-room hotel in San Diego County, for just below $71 million. The hotel was sold by Cornerstone Real Estate Advisors, an affiliate of the Massachusetts Mutual Life Insurance Co.
The sales price breaks down to about $197,000 per room. HEI plans to invest nearly $20 million to renovate the hotel and extend the fitness center. For the full story, go to The San Diego Union Tribune .
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