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The “W Hotel” in the Gaslamp District in Downtown San Diego Has New Owner

By Mike in Downtown San Diego Real Estate Market Analysis|Downtown San Diego Urban Lifestyle|July 2010 with 0 Comments

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The W Hotel in the Gaslamp District in Downtown San Diego Has New OwnerAfter foreclosure proceeding during June this summer, the W Hotel in the Gaslamp District in Downtown San Diego is now owned by the lender. The hotel had nearly $85 million in debt when it was put up for sale at a public courthouse auction on June 29th where Bank of America overtook the control of the property. The W Hotel first opened up its doors 7 years ago and has been a popular place for Downtown San Diego Condo and Downtown San Diego Loft home owners, residents and visitors to hang out. Four years ago, the hotel was bought up by Sunstone Hotel Investors Inc. , for $96 million and they made the decision that the hotel no longer was worth the $65 million that it owned. To read more about the hotel visit www.thewsandiegohotel.com. ')}
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