CGS3 Represents Trinity Investments in Acquisition of High-Profile Downtown San Diego Hotel
SAN DIEGO (January 24, 2022) – A Trinity Real Estate Investments-affiliated fund has acquired a significant stake in the Omni San Diego Hotel at 675 L St. in San Diego’s East Village. Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3) worked with Trinity’s counsel Gibson Dunn in New York as local counsel, completing due diligence and advising Trinity on a wide variety of real estate and hotel related matters related to the acquisition, which included retail space in the Padres Parkade parking facility across the street.
TGPFI-OSD Hotel Investment LLC acquired a 50% interest in the Omni Hotel and a 100% interest in the retail property – more than 13,000 square feet of fully leased street-level space directly across from the hotel – from JMI Realty, which developed the project in conjunction with Petco Park in 2004.
Omni Hotels & Resorts will retain the remaining 50% interest and continue to manage the hotel.
Adjacent to Petco Park and across from the San Diego Convention Center, the 511-room, award-winning Omni San Diego is ideally located in the busy downtown area – benefiting from multiple demand generators. According to CGS3 partners Marjorie Burchett and Tom Crosbie, who led the firm’s team for the deal, CGS3 handled all California-related due diligence for the transaction. “CGS3 is thrilled to have worked on the legal team with both Trinity and Trinity’s New York counsel in the acquisition of this well-located trophy property, ” Burchett said. “We are confident they will successfully maximize its value in the years to come.”
About Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3)
CGS3 is a new generation commercial real estate law firm with practice areas covering the full commercial real estate life cycle, including finance, acquisition/disposition, entity formation, tax, development, land use, leasing, distressed asset workouts and dispute resolution. Earning a reputation as one of California’s leading commercial real estate law firms, CGS3 has recruited some of the state’s top real estate attorneys from both large corporate firms and senior in-house positions. CGS3 is located at 12750 High Bluff Drive, Suite 250, San Diego, California 92130 and 10940 Wilshire Boulevard, Suite 2200, Los Angeles, California 90024. For more information, visit http://www.cgs3.com.