11966 El Camino Real, San Diego CA 92130
The San Diego Marriott Del Mar is an 11-story, 284-room, full-service hotel and is one of only a few full-service hotels in North San Diego County. The Marriott Del Mar is located in a premiere location in the heart of one of San Diego County’s fastest growing business and residential centers. The master-planned Del Mar Heights community consists of more than 3.4 million square feet of Class-A office space, 10,000 middle- and upper-income residences, a variety of retail, restaurant and recreation amenities, as well as some of the highest rated school districts in the country.
Hotel amenities include a 7,290-square-foot Grand Ballroom and 4,800 square feet of additional conference and boardroom facilities. The hotel also includes the award winning three-meal restaurant, Arterra. Other amenities include a bar, lounge, pool and fitness center.
In January 2006, JMI Realty sold the hotel for approximately $69.0 million, or $243,000 per room, to Sunstone Hotel Investors, Inc., a publicly-traded REIT. In addition, JMI Realty will also receive an earn-out based upon the future performance of the hotel. The sale price equates to an 11.5x multiple of projected 2006 EBITDA.
AWARDS – Arterra Restaurant:
Best Chef California for Bradley Ogden – James Beard Foundation
Excellence in Wine Hospitality for Regional Hotel/Resort Dining – Sante Magazine
Gold Medallion Award for Best Casual Hotel Restaurant – California Restaurant
Debt Partner: Jackson National Life Insurance