Karamjit Nijjar Of Blue Diamond Hospitality Acquires Hotel From Leslie D Hale For $13.2M

The Hyatt Place Fremont/Silicon Valley hotel is located at 3101 West Warren Avenue in Fremont, CA. The asset features 151 rooms, with a sale price of $13,200,000, which translates to approximately $87,417 per key. The transaction reflects a significant discount relative to the property's assessed value of $20.1 million.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $13,200,000
• Buyer: Karamjit Nijjar - Blue Diamond Hospitality
• Seller: Leslie D Hale - RLJ Lodging Trust
• Keys: 151
• Price Per Key: $87,417

Karamjit Nijjar represented Blue Diamond Hospitality in the acquisition while Leslie D Hale represented RLJ Lodging Trust in the sale. This transaction indicates ongoing pricing pressure within the Bay Area hotel market, as evidenced by the notable discount at which the property was sold.