{"id":1004304677,"date":"2019-03-01T05:27:27","date_gmt":"2019-03-01T13:27:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004304677"},"modified":"2021-05-15T04:05:53","modified_gmt":"2021-05-15T12:05:53","slug":"norcal-hilton-hotel-sells-for-50m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/norcal-hilton-hotel-sells-for-50m\/","title":{"rendered":"NorCal Hilton Hotel Sells for $50M"},"content":{"rendered":"<div id=\"attachment_1004304848\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/hotel.jpeg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004304848\" data-attachment-id=\"1004304848\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/norcal-hilton-hotel-sells-for-50m\/hilton-santa-cruz-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/hotel.jpeg\" data-orig-size=\"800,599\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Ashford Hospitality Trust, Inc.&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;The Hilton Santa Cruz\/Scotts Valley Hotel&quot;,&quot;created_timestamp&quot;:&quot;1551453550&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Hilton Santa Cruz&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Hilton Santa Cruz\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Hilton Santa Cruz\/Scotts Valley Hotel&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/hotel.jpeg?w=800\" loading=\"lazy\" class=\"wp-image-1004304848 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/hotel.jpeg\" alt=\" Hilton Santa Cruz\/Scotts Valley Hotel\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/hotel.jpeg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/hotel.jpeg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/hotel.jpeg?resize=768,575 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004304848\" class=\"wp-caption-text\">Hilton Santa Cruz\/Scotts Valley Hotel<\/p><\/div>\n<p>Ashford Hospitality Trust Inc. has purchased Hilton Santa Cruz\/Scotts Valley&nbsp;in&nbsp;Santa Cruz, Calif., for $50 million.&nbsp;As part of the acquisition financing, the company assumed a non-recourse mortgage loan with a current balance of approximately&nbsp;$25.3 million. The loan matures in&nbsp;March 2025&nbsp;and has a fixed interest rate of 4.7 percent.<\/p>\n<p>Remington Lodging will manage the 178-key property on behalf of the new owner. The same company runs&nbsp;La Posada de Santa Fe, another <a href=\"https:\/\/www.commercialsearch.com\/news\/ashford-hospitality-to-buy-santa-fe-boutique-resort\/\">property acquired by&nbsp;Ashford Hospitality Trust for&nbsp;$50 million<\/a> in October 2018.<\/p>\n<p>Located at 6001 La Madrona Drive, Hilton Santa Cruz\/Scotts Valley is near leisure destinations like Santa Cruz Beach Boardwalk, the redwood forests in the Santa Cruz Mountains and the Monterey Bay National Marine Sanctuary.&nbsp;The proximate Silicon Valley is another point of interest for business clientele. San Jose International Airport is also close by.<\/p>\n<p>The property&nbsp;is the only full-service Hilton-branded asset in the&nbsp;Santa Cruz market. Opened in 1999, the property comprises 21 suites. Amenities include 7,900 square feet of flexible meeting space, an outdoor pool, fitness center, business center, gift shop and guest laundry facility, as well as a restaurant. The hotel benefited from capital improvements worth more than&nbsp;$7 million between 2016 and 2017.&nbsp;&nbsp;<\/p>\n<p><em>Image courtesy of&nbsp;Ashford Hospitality Trust <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ashford Hospitality Trust is the new owner of the 178-key property in Santa Cruz. Acquisition financing included a non-recourse mortgage loan of roughly $25.3 million.<\/p>\n","protected":false},"author":870,"featured_media":1004304848,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21751,21783,21742,15],"tags":[34101,32805,42425],"class_list":["post-1004304677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-hotel","category-investment","category-latest","category-west","tag-ashford-hospitality-trust-inc","tag-hilton","tag-remington-lodging"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NorCal Hilton Hotel Sells for $50M - 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\/norcal-hilton-hotel-sells-for-50m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NorCal Hilton Hotel Sells for $50M\" \/>\n<meta property=\"og:description\" content=\"Ashford Hospitality Trust is the new owner of the 178-key property in Santa Cruz. Acquisition financing included a non-recourse mortgage loan of roughly $25.3 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/norcal-hilton-hotel-sells-for-50m\/\" \/>\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=\"2019-03-01T13:27:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T12:05:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/hotel.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"599\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\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\\\/norcal-hilton-hotel-sells-for-50m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/norcal-hilton-hotel-sells-for-50m\\\/\"},\"author\":{\"name\":\"Adriana Marinescu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d8680cf55f814fe2742cf94207212af1\"},\"headline\":\"NorCal Hilton Hotel Sells for $50M\",\"datePublished\":\"2019-03-01T13:27:27+00:00\",\"dateModified\":\"2021-05-15T12:05:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/norcal-hilton-hotel-sells-for-50m\\\/\"},\"wordCount\":235,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/norcal-hilton-hotel-sells-for-50m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/03\\\/hotel.jpeg\",\"keywords\":[\"Ashford Hospitality Trust Inc.\",\"Hilton\",\"Remington Lodging\"],\"articleSection\":[\"Deals\",\"Finance\",\"Hotel\",\"Investment\",\"News\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/norcal-hilton-hotel-sells-for-50m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/norcal-hilton-hotel-sells-for-50m\\\/\",\"name\":\"NorCal Hilton Hotel Sells for $50M - 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