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Fairmont Hotel in San Jose, Calif., to sell for $250M

Eagle Canyon Capital LLC is under contract to buy the two-building, 805-room Fairmont Hotel in San Jose, Calif., for about $250 million, the Silicon Valley Business Journal reported, citing property owner Maritz, Wolff & Co.

According to the report, Lew Wolff, the company's co-founder and chairman, said the deal is expected to close in January 2018, and would only include the hotel portion of the 170 S. Market St. property. The retailers on the ground floor of the 14-story, 264-room annex building are owned by separate entities and will be excluded from the sale, the report added.