Lafayette Hotel Sells For Nearly $26M
By: Lisa Brown
San Diego-based restaurant and hospitality group CH Projects recently acquired the historic Lafayette Hotel in San Diego’s North Park neighborhood for $25.8 million. CH Projects plans to restore and update the rooms, and add several food and beverage venues to the property.
Victor Krebs of Colliers represented the seller Lafayette Landlord LLC, a San Diego-based investment group. Krebs also represented the seller in its purchase of the property in 2004. CH Projects was self-represented.
“The Lafayette Hotel has great potential given the period architecture, gracious common areas, beautiful pool and vibrant North Park location. The property generated strong interest from several investors, but CH Projects’ vision met the seller’s desire to select a buyer that would continue the legacy of this great hotel,” said Krebs.
The Lafayette Hotel has 131 rooms, an Olympic-sized pool, and several restaurants and bars. The property is located at 2223 El Cajon Blvd.