JLL arranges sale of the Hotel Palomar Los Angeles

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.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Suggested Articles

Should all of 2020's scheduled hotels come online as planned, China will open the most new rooms next year since the cyclical peak in 2014.

The debuts consist of a Hampton Inn, a Tapestry Collection and a Homewood Suites and total 410 rooms.

DTZ Investors has purchased the property along with other real estate for more than £70 million.