The boutique hotel group Kirkwood Collection has acquired three historic properties in Palm Springs, Calif.: La Serena Villas, Del Marcos Hotel and The Three Fifty Hotel. All located in downtown Palm Springs, the addition of these hotels expands its greater Palm Springs portfolio to five properties and brings the Kirkwood Collection portfolio to 10 boutique hotels and properties throughout California. Terms and purchase prices were not disclosed.
La Serena Villas has a spa, restaurant and one of only two rooftop bars in Palm Springs. Originally built in 1933, this 18-room historic hotel sits over an acre of landscaped grounds and has a saltwater pool off the lobby. In 2016, the property was redeveloped as a luxury hotel. The private villas each have a patio with a claw foot tub and firepit. The hotel has an on-site restaurant as well as the Sugar High Rooftop Lounge.
Designed in 1947 by architect William Cody, The Del Marcos Hotel is a 17-room midcentury-modern property that marked Cody's debut as an independent architect in Palm Springs. Recognizing its architectural and historical significance, the Del Marcos Hotel was designated as a Class I historic site by the Palm Springs city council in 2012.
Originally built in 1950, The Three Fifty Hotel combines its midcentury roots with a chic minimalist aesthetic. The 10-room boutique hotel property was renovated in 2017 and has a pool and spa facility.
Kirkwood has partnered with Somera Capital Management on the acquisition. With 28 years of commercial real estate investment experience across multiple sectors and geographic regions, Somera has sponsored more than 120 investments totaling more than $2.5 billion in transaction volume.