Berkadia Closes Sale of Carlsbad, CA Real Estate Collection

Berkadia finalized the sale of a Carlsbad collection, which included the Carlsbad by the Sea Hotel (146-key independent hotel), Carlsbad Windmill Building (28,400 square feet retail center) and Chevron gas station on an 11.34-acre site in California’s coastal North County San Diego. Managing directors Scott Hall, John Chu and Ed Rosen as well as senior directors Aaron Lapping and Tyler Sinks of Berkadia San Diego represented Washington Capital Management Inc.’s client in this transaction. The property was sold to a local hotel investment company with long-term upside potential due to its diversified income streams from various tenants. According to Hall: “Given Carlsbad’s strong underlying fundamentals and high barriers-to-entry in coastal North County San Diego, Excel Hotel Group is well positioned for future success as they take over stewardship of this fantastic real estate.”