The 159-room Andaz San Diego hotel has a new owner: Inland American Lodging Group bought the Gaslamp Quarter boutiquefor $53M, or $333k/key. The hotel (600 F St) is managed by Hyatt under its luxury Andaz brand. The buy is in line with Inland's strategy to move into more urban, full-service properties--last year, it bought seven "upper-upscale" lodging assets, while disposing of 13 mid-scale ones. San Diego-based Kelly Capital opened the posh property in 2007, when it was known as the Ivy Hotel.
If San Diego State wins tomorrow, it will be the biggest upset of the tournament. Send your commercial RE news to julie@bisnow.com.
