{"id":1004066892,"date":"2013-02-06T09:48:43","date_gmt":"2013-02-06T17:48:43","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=101041"},"modified":"2022-12-05T07:57:01","modified_gmt":"2022-12-05T15:57:01","slug":"pebblebrook-pays-113m-for-embassy-suites-san-diego","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pebblebrook-pays-113m-for-embassy-suites-san-diego\/","title":{"rendered":"Pebblebrook Pays $113M for Embassy Suites San Diego"},"content":{"rendered":"

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

Pebblebrook Hotel Trust has added the Embassy Suites San Diego Bay to its portfolio after paying $112.5 million for the 337-key hotel. The acquisition of the full-service, upper-upscale hotel expands Pebblebrook\u2019s portfolio to 26 properties valued at about $2.1 billion.<\/p>\n

As part of the deal, the REIT assumed a $66.8 million secured, non-recourse loan, with the balance of the purchase price being funded through available cash.<\/p>\n

Embassy Suites San Diego Bay, which will be managed by HEI Hotels and Resorts, operated at 83 percent occupancy in 2012. Completed in 1988, the property underwent its most recent major renovation in 2006. A $3.5 million overhaul of the guest suites was completed last spring.<\/p>\n

Located Downtown at the intersection of Harbor Drive and Pacific Highway, the hotel is within walking distance of such attractions as the San Diego Convention Center, the Gaslamp Quarter, Seaport Village, Petco Park and Horton Plaza Shopping Mall. Distinctive features of the property include a 12-story atrium and panoramic views of the bay and the city.<\/p>\n

Standard guestroom amenities feature a 37- or 42-inch flat-screen TV, microwave, mini-refrigerator, coffee maker, and high-speed Wi-Fi Internet access. Hotel facilities include 5,000 square feet of meeting space, the PFC Bar & Grill, 3,411 square feet of retail space and an indoor heated swimming pool and whirlpool.<\/p>\n

\n","protected":false},"excerpt":{"rendered":"

Pebblebrook Hotel Trust has recently announced the acquisition of one of San Diego’s most iconic hospitality properties. Embassy Suites San Diego Bay is now part of Pebblebrook’s portfolio after the completion of a $112.5 million-deal. The REIT is assuming a $66.8 million secured, non-recourse loan, with the balance of the purchase price being funded through available cash.<\/p>\n","protected":false},"author":237,"featured_media":0,"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-1004066892","post","type-post","status-publish","format-standard","hentry","category-latest","category-san-diego"],"acf":[],"yoast_head":"\nPebblebrook Pays $113M for Embassy Suites San Diego - 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\/pebblebrook-pays-113m-for-embassy-suites-san-diego\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pebblebrook Pays $113M for Embassy Suites San Diego\" \/>\n<meta property=\"og:description\" content=\"Pebblebrook Hotel Trust has recently announced the acquisition of one of San Diego’s most iconic hospitality properties. Embassy Suites San Diego Bay is now part of Pebblebrook’s portfolio after the completion of a $112.5 million-deal. 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