SAN FRANCISCO, CA – January 31, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the Hyatt Place UC Davis, a 127-room, select-service hotel located on the University of California, Davis campus in Davis, California.
HFF marketed the property on behalf of an affiliate of Westbrook Partners.
Per a long-term ground lease, Hyatt Place UC Davis is the only hotel situated on the campus of University of California, Davis (UC Davis), which, as the largest school in the University of California system, has an enrollment of 35,415 students along with another 2,450 faculty members. The hotel, located at 173 Old Davis Road, is adjacent to the new, state-of-the-art UC Davis Conference Center and within walking distance to most of the university’s facilities and departments. Completed in 2010 and renovated in 2014, Hyatt Place UC Davis features 1,080 square feet of indoor and 1,500 square feet of outdoor meeting space; an outdoor pool, 24-hour fitness center and food and beverage options through the a.m. Kitchen Skillet, Gallery Menu, Gallery Market and the bar, which serves coffee, wine and beer.
The HFF investment sales team representing the seller was led by managing directors James Escarzega, Scott Hall and Tony Malk.
“The property’s irreplaceable on-campus location, institutional-product quality and a diverse, high-rated room night demand base allowed for a robust marketing process that maximized pricing,” Escarzega said.
About Westbrook Partners
Westbrook Partners (“Westbrook”), founded in April 1994, is a privately-owned, fully integrated real estate investment management company with offices in New York, Boston, Washington, D.C., Palm Beach, San Francisco, Los Angeles, London, Munich, Paris and Tokyo. Westbrook’s professionals are responsible for acquisition, value enhancement, financial accounting and risk management.
Westbrook’s experience includes the operation and management of office, multi-family residential, hotel, retail, industrial and single-family residential development properties. Westbrook’s professionals have been among the world’s most active and successful investors, having raised and invested more than $14 billion of equity in over $50 billion of real estate transactions in major markets throughout the world. Westbrook’s investment equity is committed by a broad, stable base of the highest-quality institutional investors, which includes public and private pension funds, endowments, foundations, and financial institutions. Westbrook has full discretion over all investment decisions.
Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.