fromwww.mercurynews.com
1 day agoSan Jose hotel that might become housing complex is bought at weak price
The Sonesta ES Suites hotel in north San Jose has been bought for $16 million by an affiliate headed up by San Diego-based Kalthia Group Hotels, according to documents filed on Dec. 17 with the Santa Clara County Recorder's Office. Earlier this year, Kalthia Group Hotels executives floated a preliminary proposal to convert the 114-room suites hotel into residences. This makes sense as a housing conversion, said Alan Reay, president of Atlas Hospitality Group, which tracks the California lodging market. Suites already have kitchens, so that makes a conversion easier.
Real estate
