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Deal of the Week - Sale

Hyatt Regency at Aventine sells

The Deal of the Week was the sale of the 417-room, Michael Graves-designed Hyatt Regency La Jolla at Aventine hotel at 3777 La Jolla Village Drive and the adjacent 28,000-square-foot building at 8930 University Center Lane, San Diego, for $92,732,500. The sale was announced in late April for $118 million.

The buyer was W-JMA La Jolla Owner VII LLC, a joint venture of JMA Ventures LLC of San Francisco and Walton Street Capital LLC of Chicago.

The acquisition was financed by an $80 million loan from Bank of America (NYSE: BAC).

The seller was New Aventine LLC, a joint venture of Strategic Hotels & Resorts (NYSE: BEE) (53.5 percent) and GIC Real Estate Pte Ltd., the Singapore government's real estate investment arm.

The hotel and adjacent building were constructed in 1990 on 4.75 acres.

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