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fromwww.mercurynews.com
5 hours ago

San Jose hotel sells for less than prior value in weak lodging market

In a sign of ongoing weakness within the Bay Area hotel market, a San Jose hotel has been bought by a local real estate investment group for far less than the property's prior value. Sonesta Select San Jose Airport was purchased for $14 million, according to documents filed on Aug. 29 with the Santa Clara County Recorder's Office. A San Mateo-based group headed up by Jayesh Keshav, Leena Keshav, Neeraj Keshav, Jai Jalaram, and Krishna Keshav Patel bought the hotel through an affiliate,
Real estate
Real estate
fromThe Mercury News
5 hours ago

San Jose hotel sells for less than prior value in weak lodging market

Bay Area hotel weakness led to Sonesta Select San Jose Airport sale for $14 million, about 40.9% below assessed value, risking reduced public revenue.
East Bay real estate
fromwww.mercurynews.com
2 weeks ago

Downtown Oakland hotel suffers loan default in fresh jolt to market

Bay Area hotels face widespread loan defaults, foreclosures, and plunging valuations, exemplified by the Moxy Oakland Uptown default and multiple seized or devalued hotel properties.
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