Investor Sells San Jose Hotel With 15% Return On Investment
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Another hotel deal is on the books in San Jose. SJ 1st Street Hotel, an entity controlled by True North Management, bought a Holiday Inn north of downtown San Jose for about $62M in cash from Aju Hotel San Jose, The Mercury News reports. Aju originally paid about $53M for the hotel in 2015.
The 354-room hotel is at 1350 North First St. and is on the light rail line and near the San Jose airport. The Holiday Inn is often frequented by business travelers.