Wheelock Street Capital Acquires Marriott Pleasanton Hotel
GREENWICH, Conn.—Wheelock Street Capital announced today that affiliates of Wheelock Street have acquired the Marriott Pleasanton, a full service lodging facility located in the San Francisco/East Bay market of Pleasanton, Calif. READER COMMENTS
On July 6, Wheelock Street acquired the Marriott Pleasanton from an institutional investor. The terms of the transaction were not disclosed.
The hotel, which opened as a Marriott in 2008 after an extensive $17.1M renovation, includes 242 guestrooms and 4,175 square feet of meeting space. The property will continue to be managed by Pyramid Hotel Group, a leading US hotel management organization.
In an announcement, Jonathan Paul, a Managing Partner of Wheelock Street Capital, said, “We are delighted to be adding another high quality hotel to Wheelock’s growing hospitality portfolio. The Pleasanton Marriott’s recent capital improvements position it well to benefit from tremendous ongoing demand growth in the East Bay.” The Pleasanton Marriott represents Wheelock’s fourth hotel acquisition in the state of California.
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