Sacramento Hampton Inn sold to Blackstone for $10M

The newest hotel in West Sacramento changed hands  as part of a nationwide portfolio sale of 19 hotels to New York private equity firm Blackstone Group.

Spartanburg, S.C.-based OTO Develoment LLC developed and built the Hampton Inn & Suites at 800 Stillwater Road, which opened in 2009. OTO sold the West Sacramento property in a package deal of hotels that closed Jan. 22. The $400 million financing for the portfolio came from GE Capital Corp.

The local property sale value was pegged at $10.2 million.

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.

As part of the deal, OTO will continue to manage most of the properties. OTO already manages 15 hotels for Blackstone.

The West Sacramento Hampton is a 110-room property just off Interstate 80 in West Sacramento. It is near Ikea, Wal-Mart and Home Depot, as well as much of West Sacramento's newer office parks. The location is also at the entrance to a large cluster of warehouses, offices, distribution plants and laboratories along Stillwater Road, such as Bayer CropScience, Tony's Fine Foods and TestAmerica's West Sacramento lab.

Suggested Articles

Host Hotels & Resorts reported seeing strong growth in loyalty redemption revenues, crediting the launch of Marriott International’s Bonvoy programme.

Raffles is to brand the residences at the Churchill’s Old War Office site in London, which also include a hotel under the flag.

Radisson Hotel Group has announced the signing of 17 new hotels in India, taking the company’s portfolio in South Asia to more than 150 hotels.