Search
 

Santa Monica Hotel Sells for $26 Mil

LOS ANGELES-A local developer purchases Pacific Shore Hotel in Santa Monica for $26 million and plans to spend $10 million more in improvements.

By Erin Cassin | Updated on November 08, 2000

LOS ANGELES-The 168-room Pacific Shore Hotel in Santa Monica has been sold to local developer Elkor Commercial Properties in a deal valued at $26 million.

The developer plans to reposition the hotel, located at 1819 Ocean Ave. into an upscale boutique property, says Louis Stervinou, managing director of Colliers International Hotel Realty, which represented both parties in the transaction. “Elkor will renovate the property significantly,” Stervinou tells GlobeSt.com, estimating that more than $10 million will be spent on remodeling work.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.