Pebblebrook Hotel Trust completed the $78.7m purchase of the Hotel Palomar Los Angeles – Westwood in Los Angeles, California, US.
It is the fifth investment for Pebblebrook in Los Angeles and brings the total number of properties in the firm’s portfolio to 33.
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Pebblebrook Hotel Trust president and CEO Jon Bortz said: "We’re thrilled with our acquisition of the Hotel Palomar Los Angeles – Westwood, located in the dynamic, high-barrier-to-entry West Los Angeles neighborhood of Westwood.
"The hotel is ideally located at the corner of Wilshire Boulevard and Selby Avenue, with proximity to all of the major motion picture studios, prominent dining, retail and museums and the Wilshire Corridor, which contains some of the highest-quality residential and office space in Los Angeles."
The hotel is near to the tourist attractions such as Hollywood, West Hollywood, Beverly Hills, Century City, Downtown Los Angeles, Santa Monica and the Los Angeles International Airport.
It features amenities including a 40ft outdoor pool and deck with poolside food and beverage service, fitness centre with floor-to-ceiling windows, a five-storey, 435-space parking garage with valet parking, a 24-hour business centre and in-room spa services.
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By GlobalDataThe property also includes eight meeting rooms with around 5,000ft² meeting space.
In addition, the hotel includes signature dining concept, BLVD 16, which serves three meals a day and features home-style American cooking and specialty handcrafted cocktails.
Pebblebrook will own a leasehold interest in the property through a ground lease that will expire in 2107, should all extension options are exercised.
Kimpton Hotels & Restaurants will continue to manage the hotel.
