Rubicon Sells LAX 596-Key Hotel Portfolio
- Jul 13, 2017
Rubicon Cos. disposed of a two-property, 596-room hotel portfolio comprising an Aloft and Fairfield Inn & Suites near Los Angeles International Airport in El Segundo, Calif. HFF marketed the property on behalf of the seller.
Located at 475 N. Sepulveda Blvd., the Aloft El Segundo – Los Angeles Airport features a 24-hour fitness center, pool, 1,000-square-foot meeting space, lounge and bar. Fairfield Inn & Suites Los Angeles LAX/El Segundo is located less than a block away from the 246-key Aloft at 525 North Sepulveda Blvd. The Marriott-branded Fairfield Inn contains 350 rooms and features an outdoor pool, fitness center and meeting space. Both properties are less than one mile from LAX and have easy access to Interstates 105 and 405. Downtown LA is 18 miles away.
10th Largest Hotel Converted
Rubicon Cos. acquired the 640-key Hacienda Hotel in 2013 from a private family that owned the property for 40 years. The property was then the 10th largest hotel in Los Angeles County. The company then completed $30 million renovations and converted the 300,000-square-foot property together with Klewin Construction into two different branded hotels: the Aloft by Starwood and Fairfield by Marriott. Another LAX mammoth hotel, the 580-key Hyatt Regency Los Angeles International Airport, has also undergone extensive renovations recently.
HFF Managing Directors Tony Malk and Scott Hall led the investment sales team representing Rubicon Cos. in the disposal of the hotel portfolio.
Images courtesy of Aloft and Fairfield