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3/07/14
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San Diego-based Trigild has listed for sale a portfolio of five SoCal, franchised hotels in Valencia, Thousand Oaks and San Luis Obispo. The portfolio has an estimated value of $100 mil.
Trigild has tapped Irvine-based Atlas Hospitality Group to market and broker the properties. Trigild and Atlas say they’ll accept offers for individual properties, for various sub portfolios of two or more hotels or for the entire portfolio.
Trigild was appointed receiver of the five hotels – including three Marriotts, a Best Western and a Holiday Inn Express – by the Superior Court of California, County of Monterey in January of 2014. The court provided for Trigild to take control of the properties and serve as the management company in charge of day-to-day operations.
Alan Reay, president of Atlas Hospitality Group, noted that the hotels represent attractive investments in prime central and southern California locations. “The California hotel market is improving dramatically with transactional activity building,” Reay said. Moreover, “each of these properties has significant brand recognition, and is strategically located near major commercial hubs with exceptional upside potential and value enhancement opportunities.”
Each hotel primarily serves the corporate and extended stay markets. Select details include:
• The 139-room Courtyard Marriott, 1605 Calle Joaquin, San Luis Obispo. Amenities include heated outdoor pool, spa, lounge, fitness center, meeting space and more.
• The 93-room TownePlace Suites by Marriott, 1712 Newbury Rd, Thousand Oaks. Amenities include outdoor pool and spa, laundry facilities, fitness center and BBQ area.
• The 120-room Courtyard Marriott, 1710 Newbury Rd, Thousand Oaks, with amenities such as lounge, outdoor pool and spa and meeting facilities.
• The 120-room Best Western Valencia, 27413 Wayne Mills Place, Valencia, with amenities such as heated outdoor pool, spa, fitness center and more.
• The 118-room Holiday Inn Express Valencia, 27513 Championship Way, Valencia. Amenities include heated outdoor pool, spa, fitness center, laundry and more.
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