News
Pacific Edge Sells For $57.5M
July 5, 2017
Courtesy of JLL's Hotels & Hospitality Group
Pacific Edge Hotel in Laguna Beach
JLL's Hotels & Hospitality Group just arranged the sale of the Pacific Edge Hotel in Laguna Beach for $57.5M.
A JV owned by affiliated entities of Westport Capital Partners sold the 109-room hotel to Highgate, in a JV with Morgan Stanley Real Estate Investing.
The Pacific Edge Hotel, on the Pacific Coast Highway in downtown Laguna Beach, has two oceanfront restaurants, Driftwood Kitchen and The Deck.
There are five stylized oceanfront bungalows on the property. The hotel also offers more than 4K SF of meeting space, two outdoor heated pools and whirlpools and direct access to the beach.
JLL International Director John Strauss, Executive Vice President Tony Muscio and Vice President Willis Cheng led the team on the deal.
