A 224-room hotel near Montgomery-Gibbs Executive Airport has been sold for $13 million, according to a brokerage firm.
The Four Points Sheraton on Aero Drive includes versatile grounds that have played host to a range of events, including weddings, corporate gatherings, and even live MMA fights.
Ben Tashakorian, senior managing director of investments, and Ali Valiahdi, an investment associate in Marcus and Millichap’s San Diego Del Mar office, successfully facilitated the transaction, representing the buyer and seller, neither of whom were identified.
The objective of the new owners, according to the firm, is to enhance the hotel’s overall appeal by making significant improvements to the premises and introducing a variety of new attractions to draw in a wider range of guests.
Marcus & Millichap (NYSE: MMI), a commercial real estate brokerage firm, specializes in investment sales, financing, research and advisory services.