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Embassy Suites Valencia hotel reportedly sold

Posted: May 25, 2012 7:15 p.m.
Updated: May 25, 2012 7:15 p.m.
 

The Embassy Suites Valencia hotel was reported Friday night as being sold, according to GlobeSt.com, a New York-based online  commercial real estate news site.

 

Built in 2007, it was reported that Cerberus Capital Management LP, sold the 156-room Embassy Suites Valencia hotel to Orange County-based private investment firm, Clearview Capital LLC for $19.6 million.

 

The hotel was purchased in an auction only last June 2011 by Cerberus and Chatham Lodging Trust. They purchased 64 hotels, owned by Innkeepers USA Trust that had been in bankruptcy. The cluster sale was reported to be $1.13 billion.

 

Jones Lang LaSalle Hotels reportedly represented Cerberus.

 

None of the parties could be reached for comment.

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