SAN DIEGO—With 80% occupancy rates and strong room rates,hotels are holding their own in marketsunderappreciated by investors who may be not be familiar with thearea, CBRE SVP Rod Apodaca tells GlobeSt.com. The firmrecently arranged the sale of the 150-room HyattPlace hotel at 2645 S. Melrose Dr. inVista, CA—which could be considered one of these underappreciatedmarkets—for an undisclosed price.
Apodaca and Bob Kaplan exclusively representedthe seller, an affiliate of Irvine, CA-basedCoreCapital, which had purchased the hotel in2014. Brighton Management, the self-representedbuyer, will also manage the property, a four-story hotel thatopened in 2012 and offers approximately 1,200 square feet ofmeeting space and provides food-and-beverage service through its24/7 Guest Kitchen, Gallery Market and Bakery Café.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
