JLL's Hotels & Hospitality Group arranged the sale of the Hotel Palomar Los Angeles. Pebblebrook Hotel Trust purchased the 264-room property for $78.7 million.
The property, which first opened as the Hotel Palomar in 2009 following a renovation, is located along Wilshire Boulevard in the heart of West Los Angeles. The hotel was sold subject to a long-term ground lease, and Kimpton Hotels & Restaurants will continue to manage the property for the new owner.
Managing director John Strauss, SVP James Stockdale and associate Willis Cheng led the JLL team on the transaction.