December 8, 2016
San Diego-based Hanalei Associates LLC, with Multi-Ventures, Inc. as managing member, sold the 419-room Crowne Plaza Hanalei located in San Diego’s Mission Valley for reportedly more than $50 million. The seller was a private client of Diamond Bar, CA-based Brighton Management.
Situated on nearly 10 acres, the iconic Mission Valley landmark will continue under the Crowne Plaza flag with significant renovations and upgrades planned for the property. Hanalei Associates acquired the property for roughly $14.5 million in 1996.
CBRE Hotels’ Bob Kaplan and Rod Apodaca represented the seller. Brighton, which will manage the property, was self-represented.
Kaplan says, “I am very pleased we were able to secure a buyer who will continue the great Hanalei tradition of quality service and guest experience that this property has offered San Diego visitors for over 40 years.”
For comments, questions or concerns, please contact Dennis Kaiser