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Hilton-branded hotel in Santa Monica, Calif., sells for $154M

Westmont Hospitality Group Inc. and Square Mile Capital Management LLC bought the DoubleTree Suites by Hilton Hotel Santa Monica in Santa Monica, Calif., for $154 million, the Los Angeles Business Journal reported, citing CoStar Group.

Real estate companies Merion Realty Partners and Procaccianti Cos. sold the eight-story, 253-room Hilton Worldwide Holdings Inc.-branded hotel at 1707 4th St., the publication said, adding that the transaction value translates to almost $608,700 per room. The deal for the 206,000-square-foot property also included roughly 32,000 square feet of office space and fewer than 10 apartment units, the publication added, citing a Square Mile representative.

JLL brokered the deal.