Throckmorton Partners Acquires Signia Hotel In San Jose For $73.1M

Throckmorton Partners has acquired the Signia hotel South Tower in San Jose for $73.1 million. The property, located at 170 South Market Street, will undergo a $40 million conversion into student housing for San Jose State University. This move comes as a response to the university's housing demand and aims to address ongoing challenges in the hotel industry due to the lingering effects of the COVID-19 pandemic.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $73,100,000

Throckmorton Partners, represented by David Silver, made the purchase from Sam Hirbod. The acquisition will contribute to meeting the housing needs of San Jose State University students, while also adapting to the current state of the hotel industry.