A hotel asset, specifically the Franciscan Inn & Suites, located at 109 Bath Street in Santa Barbara, California, has been sold. The transaction was valued at $22,500,000, translating to approximately $424,528 per key. This boutique hotel features a total of 53 keys and is situated near West Beach, Santa Barbara Harbor, and the Funk Zone.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $22,500,000
• Address: 109 Bath Street
• Market: Santa Barbara
• Keys: 53
• PPK: $424,528
• Buyer: Warren Resort Hotels
• Seller: Ed St. George
• Brokers: Austin Herlihy, Chris Parker, Miles Waters, Mike Lopus, Mike Chung - Colliers; Steve Golis - Radius Group

This transaction involved multiple brokers, with the marketing of the property being facilitated by brokers from Colliers and Radius Group. The team from Colliers included Austin Herlihy, Chris Parker, Miles Waters, Mike Lopus, and Mike Chung, while Steve Golis represented Radius Group in the deal.