News
CBRE Fund Bags Irvine Marriott
July 27, 2015
CBRE Strategic Partners US Value 7 picked up the 487-room Irvine Marriott Hotel at 18000 Von Karman Ave. The buyer plans a number of changes to the property, including the addition of a virtual concierge program, which can provide front desk services via mobile app or a website. Other additional amenities, such as expanded access to the renovated concierge lounge, will provide more opportunity to increase the property's ADR, the Orange County Register reports. The fund is sponsored by CB Richard Ellis Global Investors. [OCR]
