Brookfield Asset Management Acquires Hotel In La Jolla, CA For $187.6M

The hotel located at 4240 La Jolla Village Dr in La Jolla, CA was recently sold for $187,600,000. The transaction took place on October 28, 2022. The hotel, with a total of 376 keys, was purchased by Brookfield Asset Management, represented by Lowell Baron. The seller in this deal was Carey Watermark Investors. Alan Reay from The Atlas Hospitality Group served as the broker for this transaction.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $187,600,000
• Address: 4240 La Jolla Village Dr, La Jolla, CA
• Market: La Jolla, CA
• Buyer: Brookfield Asset Management - Lowell Baron
• Seller: Carey Watermark Investors
• Broker: Alan Reay - The Atlas Hospitality Group
• Keys: 376

This sale represents a significant investment in the hospitality sector by Brookfield Asset Management. As the buyer's representative, Lowell Baron played a crucial role in finalizing the deal. Meanwhile, Carey Watermark Investors made the decision to sell the property, with the assistance of broker Alan Reay from The Atlas Hospitality Group.