Umbrella Hotel Group Acquires DoubleTree By Hilton Hotel In El Segundo For $54.1M

The DoubleTree by Hilton Hotel located at 1985 E Grand Ave in El Segundo, CA was sold for $54,100,000. The property features seven stories with 216 keys and is situated in the El Segundo market. Umbrella Hotel Group acquired the asset from a joint venture between Evolution Hospitality and Argosy Real Estate Partners, paying approximately $250,000 per room for the hotel.

Summary of transaction details:

• Property Type: Hospital
• Transaction Amount: $54,100,000.00
• Address: 1985 E Grand Ave, El Segundo, CA
• Seller: Argosy Real Estate Partners
• Buyer: Umbrella Hotel Group
• Seller's Representative: Tony Malk (Newmark)

The deal was facilitated by Tony Malk and Scott Hall of HFF, who represented the seller, while James Fowler of HFF arranged the financing for Umbrella Hotel Group. The financing package included a mezzanine loan with Washington Holds as part of the acquisition of the DoubleTree by Hilton Hotel near Los Angeles International Airport.