Oak Coast Properties Picks Up Hotel Circle Asset

The DoubleTree San Diego – Hotel Circle recently traded hands in. The deal was arranged by CBRE Hotels representatives Bob Kaplan and Rod Apodaca, who acted on behalf of the seller. The parties involved were two locally-based investors that sold the hotel to an affiliate of Oak Coast Properties LLC. CBRE Hotels is a specialized advisory group within CBRE that provides services to companies acting in the hotel sector.

In a $49.2 million deal, the DoubleTree San Diego—Hotel Circle was recently acquired by an affiliate of Oak Coast Properties L.L.C. Bob Kaplan and Rod Apodaca of CBRE Hotels sold the 219-key property on behalf of two local investors.

According to a statement released by CBRE, the transaction involved separate deals for the leasehold and the land that were closed concurrently. The facility will continue to operate as a DoubleTree, and Portfolio Hotels & Resorts is handling property management duties.

Completed in 1970, the eight-story hotel is located on Hotel Circle South off Interstate 8 in Mission Valley. The property’s location also offers convenient access to most major local attractions, including Sea World, the San Diego Zoo, the Gaslamp Quarter and the San Diego Convention Center.

The hotel also includes the Panini Restaurant, as well as meeting and event space, outdoor pool and spa, and a five-story parking garage.