The downturn shows no signs of relenting for Oakland’s hotel industry. A dual-branded Marriott is the latest casualty in the year-long slide of lodgings in the East Bay.
The 276-room downtown hotel, located at 1431 Jefferson Street, was handed over to lender Cook Children’s Health Care Services following a deed in lieu of foreclosure filed with the Alameda County Recorder’s Office.
Beverly Hills-based Hawkins Way Capital built the 18-story hotel, which opened in 2022, with a $112M loan from a unit of Goldman Sachs. In 2023, Goldman transferred the loan to Texas-based Cook, a nonprofit whose operations include a children’s hospital in Fort Worth.
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