Vista CA— CBRE Hotels has arranged the sale of the 150-room Hyatt Place hotel at 2645 South Melrose Drive in Vista, California for an undisclosed price. CBRE Hotels represented the seller, an affiliate of Irvine-based CoreCapital, who had purchased the hotel in 2014. Brighton Management, the self-represented buyer, will also manage the hotel.
The four-story hotel that opened in 2012 offers approximately 1,200 square feet of meeting space, and provides food and beverage service through its 24/7 Guest Kitchen, Gallery Market and Bakery Café.
According to Mr. Apodaca, “Vista/Carlsbad is an underappreciated market and the hotel’s location, desirable brand, quality construction/design and upside potential made it an exceptional acquisition opportunity.”
Located against rolling hills and just minutes from the Pacific coast, the property is conveniently located near McClellan-Palomar Airport, LEGOLAND and is surrounded by more than 33 million square feet of office and industrial space throughout Vista, Carlsbad and the San Marcos market area.
CBRE Hotels is a specialized team within CBRE, providing advisory, capital markets, investment sales, research and valuation services to companies in the hotel sector. CBRE Hotels is comprised of more than 385 dedicated hospitality professionals located in 60 offices across the globe.