GOLETA, CA-HFF has closed the sale of the Holiday Inn Santa Barbara-Goleta, a 160-room, full-service hotel.
HFF marketed the property on behalf of the seller, Santa Barbara Owner, LLC, a wholly owned subsidiary of FelCor Lodging Trust. MP-Goleta Hotel Partners, LLC purchased the asset for $24 million free and clear of existing debt.
The hotel was sold unencumbered of both franchise affiliation and management.
Holiday Inn Santa Barbara-Goleta is located at the intersection of Highway 101 and Ward Memorial Highway in close proximity to the Santa Barbara Municipal Airport and the University of California, Santa Barbara. The fee simple hotel includes amenities such as 4,500 square feet of meeting space, a resort-style swimming pool, restaurant, patio bar, lounge and business center.
The HFF team representing the seller was led by senior managing director Bill Stadler and managing directors Holden Lim and Scott Hall.
FelCor, a real estate investment trust, owns a diversified portfolio of primarily upper-upscale and luxury hotels that are located in major and resort markets throughout the U.S. FelCor partners with leading hotel companies to operate its 66 hotels, which are flagged under globally renowned names and premier independent hotels.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.
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