{"id":1004055068,"date":"2012-12-12T12:32:11","date_gmt":"2012-12-12T20:32:11","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=87889"},"modified":"2022-12-08T09:35:31","modified_gmt":"2022-12-08T17:35:31","slug":"carey-watermark-pays-85m-for-courtyard-in-hotel-circle","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/","title":{"rendered":"Carey Watermark Pays $85M for Courtyard in Hotel Circle"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

Carey Watermark Investors, a joint venture of W.P. Carey & Co. and Watermark Partners L.L.C., has snapped up the Courtyard San Diego Mission Valley\/Hotel Circle for $85 million. The deal was arranged by Jones Lang La Salle Inc. managing director John Strauss along with senior vice presidents James Stockdale and Samantha Fisher.\u00a0\u00a0<\/span><\/p>\n

\"\"<\/a> Information on the Web site of the seller, Tarsadia Investments L.L.C., indicates that the company is a Newport Beach, Calif.-based firm allied with two other hospitality-related companies: T2 Development, a development and investment management firm, and Evolution Hospitality, which provides hotel management services. Carey Watermark is retaining Evolution Hospitality to manage the property.<\/p>\n

The Courtyard San Diego Mission Valley is a 317-key facility in Hotel Circle near Downtown San Diego. It offers ready access to popular attractions like the San Diego Zoo, Old Town, SeaWorld and local beaches. \u201cThe location and physical quality, together with consistent performance and strong brand and in-place cash flow, make it a solid addition to our portfolio,\u201d explained Michael Medzigian, Carey Watermark\u2019s CEO.\u00a0The hotel has 7,000 square feet of meeting space, a business center, fitness facilities,\u00a0an outdoor pool and multiple dining options. Courtyard San Diego Mission Valley was renovated in 2008.<\/p>\n

Carey Watermark was attracted by the hotel\u2019s \u201cstrong brand affiliation and robust performance, coupled with San Diego\u2019s strong and improving fundamentals,\u201d commented Jones Lang LaSalle\u2019s Strauss. He noted that revenue per available room in the San Diego market increased 8.8 percent year-over-year through October, and occupancy is up 5 percent compared to 2011.<\/p>\n

Image courtesy of hotels.com<\/p>\n","protected":false},"excerpt":{"rendered":"

The Courtyard San Diego Mission Valley\/Hotel Circle traded recently when Jones Lang LaSalle Hotels arranged the acquisition of the property for a private investment group. The buyer is Carey Watermark Investors, an Illinois-based entity that paid a reported $85 million for the San Diego hospitality property. The deal was handled by Jones Lang La Salle Hotels Managing Director John Strauss along with Senior Vice Presidents James Stockdale and Samantha Fisher. The buyer has opted to keep Evolution Hospitality as the property manager.<\/p>\n","protected":false},"author":237,"featured_media":1004506619,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1608],"tags":[],"class_list":["post-1004055068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-san-diego"],"acf":[],"yoast_head":"\nCarey Watermark Pays $85M for Courtyard in Hotel Circle - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carey Watermark Pays $85M for Courtyard in Hotel Circle\" \/>\n<meta property=\"og:description\" content=\"The Courtyard San Diego Mission Valley\/Hotel Circle traded recently when Jones Lang LaSalle Hotels arranged the acquisition of the property for a private investment group. The buyer is Carey Watermark Investors, an Illinois-based entity that paid a reported $85 million for the San Diego hospitality property. The deal was handled by Jones Lang La Salle Hotels Managing Director John Strauss along with Senior Vice Presidents James Stockdale and Samantha Fisher. The buyer has opted to keep Evolution Hospitality as the property manager.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-12-12T20:32:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T17:35:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/courtyard-san-diego1.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Carey Watermark Pays $85M for Courtyard in Hotel Circle\",\"datePublished\":\"2012-12-12T20:32:11+00:00\",\"dateModified\":\"2022-12-08T17:35:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/\"},\"wordCount\":277,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/courtyard-san-diego1.jpg\",\"articleSection\":[\"News\",\"San Diego\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/\",\"name\":\"Carey Watermark Pays $85M for Courtyard in Hotel Circle - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/courtyard-san-diego1.jpg\",\"datePublished\":\"2012-12-12T20:32:11+00:00\",\"dateModified\":\"2022-12-08T17:35:31+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/courtyard-san-diego1.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/courtyard-san-diego1.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Carey Watermark Pays $85M for Courtyard in Hotel Circle\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\",\"name\":\"Anca Gagiuc\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"caption\":\"Anca Gagiuc\"},\"description\":\"Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/anca-gagiuc\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Carey Watermark Pays $85M for Courtyard in Hotel Circle - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/","og_locale":"en_US","og_type":"article","og_title":"Carey Watermark Pays $85M for Courtyard in Hotel Circle","og_description":"The Courtyard San Diego Mission Valley\/Hotel Circle traded recently when Jones Lang LaSalle Hotels arranged the acquisition of the property for a private investment group. The buyer is Carey Watermark Investors, an Illinois-based entity that paid a reported $85 million for the San Diego hospitality property. The deal was handled by Jones Lang La Salle Hotels Managing Director John Strauss along with Senior Vice Presidents James Stockdale and Samantha Fisher. The buyer has opted to keep Evolution Hospitality as the property manager.","og_url":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2012-12-12T20:32:11+00:00","article_modified_time":"2022-12-08T17:35:31+00:00","og_image":[{"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/courtyard-san-diego1.jpg?w=1024","width":1024,"height":1024,"type":"image\/jpeg"}],"author":"Anca Gagiuc","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/"},"author":{"name":"Anca Gagiuc","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7"},"headline":"Carey Watermark Pays $85M for Courtyard in Hotel Circle","datePublished":"2012-12-12T20:32:11+00:00","dateModified":"2022-12-08T17:35:31+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/"},"wordCount":277,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/courtyard-san-diego1.jpg","articleSection":["News","San Diego"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/","url":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/","name":"Carey Watermark Pays $85M for Courtyard in Hotel Circle - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/courtyard-san-diego1.jpg","datePublished":"2012-12-12T20:32:11+00:00","dateModified":"2022-12-08T17:35:31+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/courtyard-san-diego1.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/courtyard-san-diego1.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/carey-watermark-pays-85m-for-courtyard-in-hotel-circle\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Carey Watermark Pays $85M for Courtyard in Hotel Circle"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7","name":"Anca Gagiuc","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","caption":"Anca Gagiuc"},"description":"Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/anca-gagiuc\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/courtyard-san-diego1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004055068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/237"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004055068"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004055068\/revisions"}],"predecessor-version":[{"id":1004619096,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004055068\/revisions\/1004619096"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004506619"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004055068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004055068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004055068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}