SAN JOSE — A hotel along a light rail line in San Jose has landed local buyers, a reminder that some hotel sales are being completed in the face of a feeble Bay Area lodging market.
The San Jose-based ownership group, which operates as District Eleven LLC, bought the property through an all-cash deal, the county records show. Of the two hotels that were bought in Santa Clara County, one was the Arena Hotel, which was purchased for $22.9 million, Atlas Hospitality reported. This purchase was part of a process to convert the building into a lodging for homeless individuals.