The five-story hotel, which includes 1,300 SF of ground floor retail and 2,700 SF of meeting space, was sold by Gaw Capital Partners, which acquired the property in 2016 for $43.8M, SiliconValley.com reported.
The downtown Courtyard’s estimated value in January, according to an Alameda County assessment, was $44.6M, the report said.
Last month, the 289-key Radisson Oakland Airport hotel’s valuation dropped to $15M, which is about half of a $28M CMBS loan backed by the property, according to a Morningstar report. The new valuation represents a 70% drop from a 2018 assessment of $75M.
At the end of August, the 360-room Hilton Oakland Airport permanently closed after 56 years at One Hegenberger Road. In June, Park Hotels &…
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