Sheraton Hotel Redding At Sundial Bridge - Redding Record ...

Sale#3
Sheraton Pleasanton
Pleasanton, California
170 Rooms
TRANSACTION DATA
Date of Sale: January-10
Interest Conveyed: Fee Simple
Buyer: Pl easa nton Lodging, LP
Seller: Mesa Wes t Real Es tate Income Fund
Sales Price: $12,300,000
Price per Room: $72,353
Occupancy (Jan 1, 2009 - Dec 31, 2009): 48.0%
Average Rate (Jan 1, 2009 - Dec 31, 2009): $96
RevPAR (Jan 1, 2009 - Dec 31, 2009): $46
Rooms Revenue Multiplier: 4.3
Reported Capitalization Rate: Not Disclosed
Confi rma ti on: Broker
PROPERTY DATA
Year Opened: 1985
Property Cla s s : First Class
Facilities: # F&B Outlets : 1, Total SF Meeting Space: 3,718
Amenities: Business Center, Laundry/Valet, Room Service, Gift
Shop, Outdoor Pool, Fitness Center, Whirlpool
Conditi on a t Sa l e: Good
Type of Location: Suburban
This property is located next to the Stoneridge Mall in the East Bay. The hotel is
within minutes of several area corporations and demand generators including
Safeway headquarters, Pepsi/Frito-Lay, General Electric, AT&T, Phillip Morris, the
Alameda County Fairgrounds, and the Pleasanton Sports and Recreation Center. In
2006, the property underwent a major renovation in which the hotel was
rebranded to a full-service Sheraton from a Wyndham Garden. At the time of sale,
the new owners planned to renovate the property while retaining the Sheraton
brand.
February-2011 Sales Comparison Approach
Sheraton Hotel Redding At Sundial Bridge – Redding, California 102