February 23, 2016
Three San Diego-area hotel transactions were recently completed, involving the Hotel La Jolla, La Jolla Inn and the Mission Valley Marriott, for a combined $123-million.
The 110-room Hotel La Jolla, at 7955 La Jolla Shores Dr., was acquired by Irvine-based Khanna Enterprises for $40-million. The seller was Westport Capital Partners.
The La Jolla Inn, a 23-room property built in 1947 at 1110 Prospect St., sold for $7.1-million to San Diego-based Oceanic Properties. The seller was Anthony Torbali.
The Mission Valley Marriott,, at 8757 Rio San Diego Dr., was acquired by Greenwich, Conn.-based Wheelock Street Capital, a real estate investment firm, for $76-million. The seller was Marriott’s Host Hotels & Resorts.