Doubletree Carson in Los Angeles Sold
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Doubletree Carson in Los Angeles Sold
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Category: North America & West Indies / Carribean islands
This is a press release selected by our editorial committee and published online for free on 2007-10-04
PKF Capital has arranged the sale of the 224 room full service Doubletree Carson Civic Plaza Hotel located in the South Bay area of Los Angeles. PKF Capital represented the seller, Carson Inn, Inc. The buyer was Harvard Grand Investment, Inc. The seller purchased the property in March 2005, and recently completed an extensive renovation as part of the conversion of the property to the Doubletree brand.
The successful sale to Harvard Grand Investment was a result of an extensive marketing campaign by PKF Capital, which included production of high quality marketing materials, hosting a complete due diligence war room web site, and a competitive call for offers process. The complex sale transaction included new franchise licensing, liquor license transfer, and the funding of a new acquisition loan.
The 8-story Doubletree Carson was built in 1988 and features an outdoor pool and spa, 5,000 SF of meeting space, full service restaurant, sports bar, fitness room and business center. Located along the I-405 Freeway midway between LAX and Long Beach, the property enjoys a mix of corporate, leisure, and group business. In addition, the Doubletree Carson is the official hotel of the Home Depot Center, a 125-acre sports campus featuring soccer, tennis, track and field, as well as other entertainment venues.
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