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Newly Completed Hilton Garden Inn in Fremont Sells for $41.7M

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Colliers represents seller in sale indicating investor confidence in Bay Area

Fremont, CA (September 27, 2021) – Colliers, a leading diversified professional services and investment management company, recently facilitated the sale of a newly completed Hilton Garden Inn in Fremont, California. The hotel, which spans five stories and includes 145 rooms, conference spaces, an extended outdoor area, restaurant and lobby bar, was completed in May 2021. Colliers US Hotels Executive Managing Director Dharmesh Patel represented the seller, Maryland-based Baywood Hotels Inc, who sold the building to AWH Partners. AWH retained ownership of the building on September 9, 2021, purchasing the property for $41,700,000. The final sales price accounts for the land and building plus fixtures, furniture and equipment.

“This sale was a vote of confidence from institutional buyers that there is value in the Silicon Valley market, even during a time when corporate travel is far and few between,” said Patel. “The Silicon Valley has been one of the worst performing hotel markets in the country during the pandemic. That being said, there is a lot of capital currently chasing deals in Silicon Valley as there is very little fear that this market won’t rebound back to one of top markets post-pandemic.”

About Colliers International
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.

Media Contact:
Solana Tanabe
Allison + Partners for Colliers
Solana.tanabe@allisonpr.com
+1 916 799 3193