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4240 La Jolla Village Drive...

Updated Sep 30, 2025

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

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

4240 La Jolla Village Drive, La Jolla, California 92037, United States

$187,600,000

Building Size

—

Asset Type

Hotel

Closing

Oct 27, 2022

About this deal

AI

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.

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$187,600,000

Hotel

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Players

Alan Reay

Atlas Hospitality Group

Broker

$602.6M

vol

2 deals

Broker
Brookfield Properties
Brookfield PropertiesBrokerage
Lowell Baron

Lowell Baron

Buyer

$811.5M

vol

8 deals

Buyer
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La Jolla Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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