Wheelock Street Capital has announced that an affiliate of Wheelock closed on the previously announced acquisition of the former Renaissance Agoura Hills in Agoura Hills, CA. The hotel was converted into the Sheraton Agoura Hills Hotel at closing.
The Sheraton Agoura Hills Hotel will undergo a $6.6 million renovation to be completed in the coming months. The renovation will upgrade the hotel’s technology, meeting rooms, lobby, restaurant, fitness center and guest rooms. The guest rooms will feature the Sheraton Sweet Sleeper bed to meet AAA's Five Diamond Award criteria. The meeting space will also be expanded.
Wheelock Street acquired the property from an institutional investor and obtained acquisition financing from a US-based insurance company. The terms of the transaction were not disclosed.
The property includes 280 guestrooms, including 14 suites, and nearly 17,000 square feet of meeting space. The hotel is located south of the Ventura Freeway (Highway 101) in the heart of the Conejo Valley.