San Diego, California – June 25, 2015 – CBRE Hotels has arranged the sale of the 224-room DoubleTree San Diego Del Mar. CBRE Hotels represented the seller, PHF Ruby LLC an affiliate of Fillmore Capital. The buyer is San Diego based Southwest Value Partners.
Southwest Value Partners has retained Dimension Development Company as the new operating manager of the hotel, which will continue to operate under the “DoubleTree by Hilton” license. The firm will also improve the asset through targeted capital investment and a focus on providing premium hospitality services to hotel guests.
The 5-story hotel property originally opened in 1991 and underwent a partial renovation in 2012. Strategically located in the Del Mar Heights area of San Diego near the junction of Interstate 5 and State Route 56, the asset offers convenient access to many local San Diego leisure and corporate demand generators.
Bob Kaplan and Rod Apodaca, Senior Vice Presidents for CBRE Hotels, acted as exclusive agents for the seller.
According to Mr. Apodaca, “The Del Mar DoubleTree’s exceptional location, desirable brand and physical condition made it one of the most compelling transactions in the San Diego market in recent years.”
CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 265 dedicated hospitality professionals located in over 60 offices across the globe. For more information, please visit our website at www.cbrehotels.com
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com