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Newest Hotel in Submarket Changes Hands

SAN JOSE, CA-CBRE Strategic Partners U.S. Value 6 buys the San Jose Marriott for significantly less than replacement cost.

By Natalie Dolce | Updated on May 16, 2013

SAN JOSE, CA-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that CBRE Strategic Partners US Value 6, a fund sponsored by CBRE Global Investors, has acquired the San Jose Marriott Hotel. The 506-guest-room, class A full-service hotel is located in downtown San Jose.

The Marriott is the newest hotel in the submarket and offers contemporary accommodations and amenities, including a swimming pool, fitness room, business center, 23,000 feet of meeting and event space, and acclaimed restaurants. While the fund could not disclose the purchase price, we did learn that it was purchased for “significantly less than replacement cost.”

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