Excel Hotel Group Acquires Carlsbad By The Sea Hotel In $43.5M Sale

Berkadia has sold the Carlsbad by the Sea Hotel, Carlsbad Windmill Building, and a Chevron gas station in Carlsbad, California to local hotel investment company Excel Hotel Group. The properties are located at 850 Palomar Airport Road in Carlsbad. The Carlsbad by the Sea Hotel and Carlsbad Windmill Building are a combination of hotel and retail spaces spread across 11.34 acres. The transaction took place in the Carlsbad market. The sale price for the properties was $43,500,000. The total number of keys in the hotel was 146, resulting in a price per key of $297,945.

Summary of transaction details:

• Property Type: Hotel & Retail
• Transaction Amount: $43,500,000
• Address: 850 Palomar Airport Road, Carlsbad, California
• Market: Carlsbad
• Acres: 11.34

The buyer of the properties is Excel Hotel Group, while the seller is Washington Capital Management, Inc. The deal was facilitated by the brokers Scott Hall, John Chu, Ed Rosen, Aaron Lapping, and Tyler Sinks of Berkadia.

The strategic location and diverse income streams of the properties generated significant interest in the transaction, leading to the successful sale to Excel Hotel Group.