Cushman & Wakefieldannounced today that it represented a local family office in the $56 millionsale of Four Points by Sheraton LAX Hotel located in Los Angeles, Calif. to aninternational investor.
A Cushman & WakefieldGlobal Hospitality group team of Daniel MacDonnell, Stephen Michels and MatthewRiley marketed the hotel on behalf of the ownership.
The 568-room, full-servicehotel is recently renovated with strong in-place cash flow in the airportsubmarket of Los Angeles, an international travel destination with highbarriers to entry. The C&W team received interest from a wide-range ofinvestor groups including high net-worth family offices, internationalinvestors and public/private REITs. Through a rigorous marketing process,C&W was able to identify, qualify and ultimately selected a foreign buyer,who with this transaction, made its first hotel acquisition in the U.S.
Cushman & Wakefield isthe world’s largest privately‐held commercial real estate services firm. Thecompany advises and represents clients on all aspects of property occupancy andinvestment, and has established a preeminent position in the world’s majormarkets, as evidenced by its frequent involvement in many of the mostsignificant property leases, sales and management assignments. Founded in 1917,it has approximately 250 offices in 60 countries, employing more than 16,000professionals. It offers a complete range of services for all property types,including leasing, sales and acquisitions, equity, debt and structured finance,corporate finance and investment banking, corporate services, propertymanagement, facilities management, project management, consulting andappraisal. The firm has nearly $4 billion in assets under management globally.A recognized leader in local and global real estate research, the firmpublishes its market information and studies online atwww.cushmanwakefield.com/knowledge