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Motel on Centre City in Escondido sold

The 77-room Quality Inn & Suites Escondido motel -- formerly America's Best Value Inn & Suites -- has been sold for $3.3 million.

The buyer was Reena Patel, 6337 Middleton St., Huntington Park 90255.

The seller of the property (229-271-25) was KKS Hospitality LLC, a California limited liability company, with Mitesh Kalthia as managing member and Himanshu Sarvaiya as member. The seller also took back a $350,000 trust deed.

The approximately 24,015-square-foot motel, located on 555 Centre City Parkway, was constructed in 1974 on a 1.53-acre lot.

In December 2006, the property was sold for $5.7 million, with financing of $4 million from Pacific Western Bank.

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