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$200K Per Key Buys Bay Bridge Hilton

EMERYVILLE, CA-Angelo, Gordon & Co. sells the 278-room Hilton Garden Inn San Francisco Bay Bridge to JP Morgan Investment Management Inc.

By Brian K. Miller | Updated on June 10, 2007

EMERYVILLE, CA-Angelo, Gordon & Co. and partners have sold the recently repositioned Hilton Garden Inn San Francisco Bay Bridge here to JP Morgan Investment Management Inc. The sale price was approximately $200,000 per key, according to a local source familiar with the transaction.The 13-story hotel is located at the foot of the Bay Bridge, between Oakland and Berkeley. Amenities include a full-service restaurant; 9,000 sf of meeting space; a remodeled fitness room; a pool; a 24-hour business center; free wireless Internet access and views of the Oakland-Berkeley Hills and the San Francisco skyline.Jones Lang LaSalle Hotels had the disposition assignment. JLLH executive vice president John Strauss says the hotel “benefits greatly” from its location along Interstates 80 and 580, which provide access to Downtown San Francisco, Berkeley and Oakland.”The resurgence of the Bay Area economy has resulted in steady increases of corporate, leisure and convention travelers,” he says. “The Moscone Convention Center recently completed a record-breaking year, booking more than 5.4 million tentative room nights through 2028, building a solid base for future growth.”

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