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REAL ESTATE
Thanks to some big-ticket deals, San Diego County saw a total of $1.47 billion in hotel property sales transactions in 2015 - up 84 percent in total value from the prior year. That happened even as the number of properties sold stayed the same at 30, according to the latest annual sales report from brokerage and research firm Atlas Hospitality Group .
Officials of Irvine-based Atlas said the San Diego region's biggest deal of 2015 was the $598 million transaction in which Blackstone Group reacquired majority ownership of the 757-room Hotel del Coronado , as it acquired former majority owner Strategic Hotels & Resorts Inc.
The biggest local sale on a perroom basis was the $259 million deal - amounting to $1.04 million per room - in which Blum Capital and the parent of Fairmont Hotels & Resorts purchased a majority stake in the 249-room Grand Del Mar in Carmel Valley, from Douglas Manchester . That property is now known as Fairmont Grand Del Mar .
San Diego's average price per room for properties sold in 2015 was $203,063 (up 65 percent from 2014) and the median price per room was $134,375 (up 77 percent).
For California as a whole, the total dollar volume for 389 properties sold hit a record $9.5 billion in 2015, up nearly 87 percent over 2014. The median...