Vista CA— CBRE Hotels is pleased to announce the sale of the 150-room Hyatt Place San Diego located 2645 South Melrose Drive in Vista, California. The recently constructed property was sold by an entity controlled by ABA Development to a JV affiliated with Irvine-based Core Capital Investments and Downtown Properties.
The Hyatt Place, a premium, select-service branded hotel, opened in July 2012. Offering convenient access to Interstate 5 and regional access via Highway 78, the property is located in one of the top submarket’s of San Diego with established and expanding leisure attractions such as Legoland, a burgeoning local airport, and a corporate center that is slated to continue to grow even further with a number of office park developments.
Mr. Apodaca noted, “This asset offered an exceptional opportunity for a new owner to capture untapped market share within the Vista/Carlsbad region.”
CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe. For more information, please visit our website at www.cbrehotels.com.