Hillcrest Hotel Being Converted to ApartmentsWednesday, January 11, 2017
A Sommerset Suites Hotel in Hillcrest is slated to become a boutique apartment community after the property was recently purchased by San Diego-based SENTRE Partners.
The price on the deal – not immediately disclosed by the parties – was $19.5 million, according to title documents obtained by brokerage and research firm Atlas Hospitality Group, which was not involved in the transaction.
A statement from brokerage firm Holliday Fenoglio Fowler LP (HFF), which represented the buyer, said SENTRE Partners plans to convert the building at 606 Washington St. into an 80-unit apartment property called The Whitson.
Media reports indicate that the hotel was most recently owned by Irvine-based Pacifica Hotels and was closed as of Jan. 4. According to CoStar Group, the building was originally constructed on 0.8 acres in 1986.
HFF said the property was originally designed as a boutique apartment community, and the sellers converted it into a hotel in the mid-1990s, leaving most of the apartment amenities intact, including a pool and spa, barbecue area, dining room and business center. Brokers said The Whitson will include studio and one-bedroom apartments with 96 parking spaces, 80 of which will be covered.
HFF’s Hunter Combs, Scott Hall and Aldon Cole led teams that handled the sale and loan financing through a life insurance company.