Alan Fuerstman Of Montage International Acquires Pendry San Diego Hotel From Robert Green For $147M

The asset involved in this transaction is a hotel located at 550 J Street in San Diego, CA. The property has 317 keys and a price per key of $463,722, culminating in a sale price of $147,000,000. This 12-story hotel is situated in the Gaslamp Quarter and features amenities such as Spa Pendry, a pool deck, and six distinct food-and-beverage outlets. The property will continue to operate under the Pendry brand, which is owned by the acquiring company.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $147,000,000
• Buyer: Alan Fuerstman - Montage International
• Seller: Robert Green
• Keys: 317
• Price Per Key: $463,722
• Address: 550 J Street
• Market: San Diego, CA

The buyer, Alan Fuerstman, represents Montage International, which now owns Pendry San Diego. The seller, Robert Green, has held ownership of the property since its opening in 2017, indicating a strategic sale in the evolving hospitality market.