The San Jose Marriott, a 27-story hotel in the heart of Silicon Valley, has changed hands in a $154 million deal. The buyer, Carey Watermark Investors 2 Incorporated (CWI 2), is a non-traded real estate investment trust focused on investing in lodging and lodging-related properties. Built in 2004 and recently renovated, the property features 510 guestrooms as well as 23,000 sqf of meeting and event space, three food and beverage outlets, a business center, fitness center and outdoor swimming pool. Mark Elliott, President of Hodges Ward Elliott, represented the seller in the transaction. The hotel has a direct connection to the McEnery Convention Center as well as close proximity to San Jose State University, the Tech Museum of Innovation, the San Jose Museum of Modern Art and the SAP Center, home of the NHL’s San Jose Sharks.
“The San Jose Marriott is an outstanding asset when you combine the quality of the hotel and its downtown location right in the heart of one of the most sought-after Silicon Valley regions,” said Mark Elliott, Hodges Ward Elliott. “We were able to identify a quality buyer, one we have worked with on other acquisitions.”
