Newport Beach, CA, September 10, 2019 – Hotel Innvestor (“HI”) recently facilitated the acquisition of the trophy Pantai Inn oceanfront hotel in La Jolla, California by an investor group. The off-market transaction was sourced through the Hotel Innvestor network. The HI team provided strategic and transactional advisory services, acted as the Buyer’s agent, and also invested principal equity in the transaction.
The rare property had never been offered for sale since its development and assemblage in 1946. The hotel was sold by siblings who are descendants of the original developer, Max Heimburge.
The investor group represented by HI includes a San Diego-based investor and a Bethesda, MD-based family office, Wellfleet Equity. San Diego based Azul Hospitality has taken over day to day operations of the hotel. HI Founder& President Tim L. Edgar said, “The Pantai Inn is an irreplaceable asset with incredibly high barriers to entry. The ability to execute and provide the broad level of support required to bring the transaction to conclusion is a great illustration of the capabilities of Hotel Innvestor. We are thrilled to be able to bring this transaction together and also add it to our growing portfolio of owned assets.”
About Hotel Innvestor
Hotel Innvestor is an investment banking platform dedicated to identifying compelling investment opportunities in acquiring or recapitalizing existing hotels or ground up development and then raising equity capital and/or sourcing debt to execute the opportunity. Management has been active in the hotel industry since 1991 in hotel operations, brokerage and ownership. HI leverages existing hotel industry relationships, market- and brand-specific knowledge, and methodically sound underwriting to source and vet investments in the highest quality hotel projects nationwide.