Pacifica Hotels in Irvine sold the 80-room Sommerset Suites in the Hillcrest neighborhood of San Diego for $19.5 million to Sentre Partners, also in San Diego.
Pacifica owns and operates about 35 hotels in several states, with most in California and many along the coast.
Sentre develops office, multifamily, retail and industrial property. Its name is an acronym for “stewards and entrepreneurs of real estate.”
The hotel was built as an apartment complex in 1986 and converted to hospitality use in the 1990s. It ran as a mid-scale extended stay property and fell outside of Pacifica’s current focus on boutique and luxury offerings.
It closed Jan. 4, and broker Holliday Fenoglio Fowler LP, which represented the buyer, said in a statement the hotel had retained its apartment amenities, including a barbecue area, and Sentre would turn it back into an apartment complex with studio and one-bedroom units, called The Whitson.
Sentre financed the deal through a life insurance company.
Hirsh is a reporter for sister publication the San Diego Business Journal, in which a version of this article first appeared.