LOS ANGELES – Blackstone has acquired the National Upscale Select Service Portfolio, which includes 15 hotels along the east and west coastlines, for an undisclosed sum.
The portfolio contains seven California-based hotels, including the 125-roomHampton Inn & Suites Thousand Oaks; the 143-room Hyatt Place Los Angeles/LAX/El Segundo; the 128-room Residence Inn Camarillo; the 132-room SpringHill Suites Irvine John Wayne Airport Irvine/Orange County; the 112-room Residence Inn San Diego North /San Marcos; the 119-room Homewood Suites Fresno and the 118-room SpringHill Suites Fresno. It also contains hotels in Alabama, Florida, Virginia, Connecticut, Pennsylvania and Maryland.
All hotels are under the Hilton, Hyatt or Marriott branding. Most are less than five years old, and many feature amenities like sundry shops, fitness centers, outdoor patios and business centers.
The seller, OTO Development LLC, was represented by Mark Fair, Al Calhoun and Samantha Fisher of JLL’s Hotels & Hospitality Group.