Pimco Acquires Hotel In San Diego For $64.5M

An asset in the form of a hotel located at 530 Broadway in San Diego has been sold in a transaction. The property, consisting of 245 rooms, was sold for a total price of $64,500,000, resulting in a price per room (PPR) of $263,265. The sale took place on February 23, 2021.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $64,500,000
• Address: 530 Broadway, San Diego
• Market: San Diego
• Rooms: 245
• Price Per Room (PPR): $263,265

Pimco acted as the buyer in this transaction, while Hersha Hospitality Trust served as the seller. The deal was finalized with the involvement of Emmanuel Roman, Daniel J. Ivascyn, and Jay H. Shah.