Old Town’s Marriott Brands Benefit from Growing Demand Drivers

Newport Beach-based MIG Real Estate LLC (MIG) recently purchased the Courtyard San Diego Old Town at 2435 Jefferson St. and the Fairfield Inn & Suites San Diego Old Town at 3900 Old Town Ave. The Courtyard was built in 1987 and offers 176 rooms with 3,416 square feet of meeting space, while Fairfield Inn & Suites, built in 1988, has 123 rooms and 2,660 square feet of meeting space.

“We are optimistic about San Diego’s continued recovery, and these assets are well-positioned within the popular Old Town neighborhood, central to a diverse mix of growing demand drivers,” says Kyle Halbrook, a hotel acquisitions manager for MIG Real Estate. “These premium-branded hotels are an exciting addition to MIG’s growing hotel portfolio, complementing our strategic expansion in West Coast markets.”

Both properties are Marriott-branded hotels and were acquired by MIG Real Estate in line with the objective to invest in value-add hotel product in markets with proven operating dynamics.