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SAN DIEGO – A joint venture between Core Capital Investments and Downtown Properties has acquired the 150-room Hyatt Place San Diego in the submarket of Vista for a reported $22 million. The hotel is located at 2645 South Melrose Drive.
The premium, select-service branded hotel opened in July 2012. It enjoys convenient access to Interstate 5, Highway 78 and Legoland.
The seller, an entity controlled by ABA Development, was represented by Rod Apodaca and Bob Kaplan of CBRE Hotels in Newport Beach.