Westmont Hospitality Group And Square Mile Capital Management Acquire Santa Monica Hotel For $154M

The hotel located at 1707 4th St. in Santa Monica, LA has been sold in a recent transaction for a price of $154,000,000. The property, which spans a total area of 206,000 square feet, was acquired by Westmont Hospitality Group and Square Mile Capital Management. The sellers in this deal were Merion Realty Partners and Procaccianti Cos. The transaction was facilitated by Jones Lang LaSalle Inc.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $154,000,000
• Location: 1707 4th St., Santa Monica, LA
• Market: Santa Monica
• Square Footage: 206,000

The buyers, Westmont Hospitality Group and Square Mile Capital Management, successfully acquired the hotel property at 1707 4th St. in Santa Monica. On the other hand, the sellers involved in this transaction were Merion Realty Partners and Procaccianti Cos. The entire process was facilitated by the brokerage firm Jones Lang LaSalle Inc. It is worth noting that apart from the hotel, the sale also included about 32,000 square feet of office space and fewer than 10 apartments, as confirmed by a representative from Square Mile.