Local Buyer Acquires 224-Room Doubletree

CARSON, CA-Harvard Grand Investment Inc. of Los Angeles has acquired the 224-room Doubletree Carson Civic Plaza Hotel from San Diego-based Carson Inn Inc. in a transaction brokered by PKF Capital. Bob Kaplan, senior managing director in the Los Angeles office of PKF Capital, tells GlobeSt.com that the property generated multiple offers after drawing the interest of 100 prospective buyers who signed confidentiality agreements when PKF launched its marketing campaign for the property.

Kaplan and managing director Rod Apodaca of PKF brokered the sale, terms of which were not disclosed. Comparable properties have sold in the range of $140,000 per room at cap rates of about 8%.