Welcome Group Acquires Hotel In El Segundo, CA For $49M With Buyer's Rep Amar Shokeen & Seller's Rep Craig Wrench

The Hotel located at 750 North Nash Street in El Segundo, CA was recently sold in a closed transaction. The sale took place on September 27, 2022, with a sale price of $49,000,000. The property was purchased by Welcome Group, represented by Amar Shokeen, while Washington Holdings, represented by Craig Wrench, served as the seller. The deal was facilitated by JLL, acting as the broker. The Hotel comprises 143 keys and has a per key price of $342,657.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $49,000,000
• Date: 09/27/2022
• Address: 750 North Nash Street, El Segundo, CA
• Buyer: Welcome Group - Amar Shokeen
• Seller: Washington Holdings - Craig Wrench
• Broker: JLL
• Lender: Commercial Bank of California
• Keys: 143
• Per Key Price: $342,657

Congratulations to Welcome Group and Amar Shokeen on their acquisition of the Hotel. The sale was executed with the assistance of JLL, demonstrating their expertise in facilitating property transactions. The Commercial Bank of California served as the lender in this deal.