CARSON, CA-Harvard Grand Investment Inc. of Los Angeles hasacquired the 224-room Doubletree Carson Civic Plaza Hotel from SanDiego-based Carson Inn Inc. in a transaction brokered by PKFCapital. Bob Kaplan, senior managing director in the Los Angelesoffice of PKF Capital, tells GlobeSt.com that the propertygenerated multiple offers after drawing the interest of 100prospective buyers who signed confidentiality agreements when PKFlaunched its marketing campaign for the property.

Kaplan and managing director Rod Apodaca of PKF brokered thesale, terms of which were not disclosed. Comparable properties havesold in the range of $140,000 per room at cap rates of about8%.

Kaplan tells GlobeSt.com that the prospective buyers for theDoubletree ranged from individual owner-operators to large nationalcompanies. The seller had owned the property since March 2005 andhad recently completed an extensive renovation as part of theconversion of the hotel to the Doubletree flag.