San Diego, CA
San Diego records biggest hotel sale so far this year: $165M
In what is the single biggest hotel sale so far this year, the 394-room Hilton La Jolla Torrey Pines resort has been acquired for $165 million by a Los Angeles-based investment firm that owns no other hotels in San Diego.
JRK Property Holdings, a real estate company that focuses largely on multi-family housing, was drawn to San Diego because of its stature as a lucrative hospitality market. But the real draw was the Hilton property, given its highly desirable location near the coast, said executive Shaan Bhatia.
It also helped that JRK had $350 million in investor money still sitting in a separate hospitality fund waiting to be spent.
“The Hilton was on the market, and we’d been hunting,” said Bhatia, who is head of hotel investment for JRK. “San Diego is in our view one of the major growth markets, and there’s a very strong life sciences corridor next to this hotel that makes this a very strong long-term bet to make. It’s also in a sub-market where there’s no new supply coming in.”
While the hotel’s last major renovation was a decade ago, there have since been “patchwork” refreshes, Bhatia said.
The hotel, with rooms overlooking the Torrey Pines Golf Course and Pacific Ocean, continues to do well financially, but JRK still plans to eventually invest $30 million in property upgrades, although those specific plans have yet to be finalized, Bhatia said.
“Over time, the property will need some level of upgrade, particularly the rooms,” he conceded. “But the property still performs extremely well and outperforms almost all of the local competitors in the aggregate because of its location and brand. We’re working through our plan right now but over time there should be a relatively comprehensive renovation.”
Selling the hotel was Braemer Hotels and Resorts, which noted in a news release that the sale enabled it to pay off the last of its remaining debt maturities in 2024. JRK will not own the resort property itself as the Hilton Hotel sits on city-owned land. There are 63 years remaining on the hotel’s lease with the city, Bhatia said.
While JRK used a portion of its hospitality fund to help finance the Hilton purchase, a loan was still needed, Bhatia said. High interest rates have been a key factor fueling a downturn in hotel sales statewide. Bhatia, however, pointed out that his firm was able take advantage of more favorable loans via the commercial mortgage-backed security market. In the case of the Hilton acquisition, the company put in one-third equity and took out a loan on the balance, Bhatia said.
With the purchase of the La Jolla hotel, JRK will now own a total of 1,500 hotel rooms, including the Ace Hotel in Palm Springs, the Oceana Santa Monica, five properties in south Austin, and two in San Juan, Puerto Rico, Bhatia said.
Emmy Hise, senior director of Hospitality Analytics for the commercial real estate firm CoStar, pointed out that while the Hilton Torrey Pines is among the priciest sales in the Western U.S., the price paid per room is less than comparable sales in the area.
“The Hilton is the highest-priced hotel transaction in the San Diego market since 2022,” she said, “but the price per key (room) is lower than similar hotel types that traded in the area in the past five years. This is likely due to the needed capital expenditures or required property improvement plans.”
The 35-year-old Torrey Pines property, which at one time was owned by Hilton, last changed hands in 2013 when Braemar purchased it from Ashford Hospitality Trust as part of an eight-hotel portfolio. Ashford serves as the adviser to both the Hospitality Trust and Braemar. The last time the hotel was sold by itself was in 2003 when it commanded a price of $106.5 million.
“When you look at the price they paid per room — $418,000 — that’s still below replacement cost, and it would be extremely difficult to replace this hotel, because of its location and the fact you have to deal with the Coastal Commission,” said Alan Reay, president of Atlas Hospitality Group. “So I think it’s a very good acquisition for the buyer. San Diego is still one of the best performing markets in California.”
Nonetheless, hotel sales in California, Reay said, remain down compared to a year ago, but the decline has more to do with a disconnect between what hotel owners think their properties should sell for and the dollar figure that buyers are willing to pay.
Originally Published:
NASCAR will honor the 250th birthday of the United States and the US Navy’s 250th anniversary with a race brand new to the racing calendar.
The Anduril 250 will take place on a road course built on Naval Base Coronado in San Diego, California. The 3.4-mile track has 19 turns. The race is 255 miles total and drivers will do 75 laps.
Shane van Gisbergen, who is widely considered to be NASCAR’s best road course driver, will start in pole position. van Gisbergen has won seven road races in 14 total starts, and he is just two road wins away from tying Jeff Gordon’s record of nine.
nascar anduril 250: what to know
- When: June 21, 4 p.m. ET
- Where: Coronado Street Course (Naval Base Coronado, San Diego, California)
- Channel: Streaming exclusive
- Streaming: Prime Video (30 days free)
Here’s everything you need to know about today’s NASCAR Cup Series race on the Coronado Street Course.
NASCAR Cup race at San Diego start time:
Today’s (June 21) NASCAR race, the Anduril 250, begins at 4 p.m. ET.
What channel is today’s (June 21) NASCAR race on?
Today’s NASCAR race won’t be on traditional television; it will air exclusively on Prime Video.
How to watch the NASCAR Anduril 250 for free:
With Prime Video, you can also take advantage of the streamer’s Shop the Race storefront, exclusively on the Amazon mobile app, to shop gear, flags, and more for your favorite driver.
NASCAR San Diego starting lineup:
- Shane van Gisbergen
- Carson Hocevar
- Ryan Blaney
- Zane Smith
- Todd Gilliland
- Daniel Suárez
- Ryan Preece
- Connor Zilisch
- Michael McDowell
- Austin Hill
- Ty Gibbs
- Bubba Wallace
- Corey Heim
- Kyle Larson
- AJ Allmendinger
- Chris Buescher
- Tyler Reddick
- Austin Dillon
- Joey Logano
- Alex Bowman
- Kevin Magnussen
- Chase Briscoe
- Ross Chastain
- Riley Herbst
- Cole Custer
- Denny Hamlin
- William Byron
- John Hunter Nemechek
- Brad Keselowski
- Chase Elliott
- Austin Cindric
- Noah Gragson
- Ricky Stenhouse Jr.
- Ty Dillon
- Josh Berry
- Jimmie Johnson
- Christopher Bell
- Erik Jones
- Cody Ware
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This article was written by Angela Tricarico, Commerce Streaming Reporter for Post Wanted Shopping, Page Six, and Decider.com. Angela keeps readers up to date with cord-cutter-friendly deals, and information on how to watch your favorite sports teams, TV shows, and movies on every streaming service. Not only does Angela test and compare the streaming services she writes about to ensure readers are getting the best prices, but she’s also a superfan specializing in the intersection of shopping, tech, sports, and pop culture. When she’s not writing about (or watching) TV, movies, and sports, she’s also keeping up on the underrated perfume dupes at Bath & Body Works and testing headphones. Prior to joining Decider and The New York Post in 2023, she wrote about streaming and consumer tech at Insider Reviews.
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Shane van Gisbergen earned his sixth career pole and second of the 2026 season on Saturday, rocketing to pole position around NASCAR’s all-new 3.4-mile street course at Naval Base Coronado. He even touched the wall twice on his fast lap, pushing to the absolute limit.
“A little bit (surprised),” said Van Gisbergen, who went out with the first group of qualifiers. “I thought the track would be better, and I thought people would execute a bit better. As I said, it’s just so difficult. There’s three or four corners you’re seeing for the first time of the day, and it’s on your heater. Amazing. The Red Bull Chevy is really good. Thank you to Trackhouse for doing a great job from yesterday, and we just need to get the driver a bit better,” he concluded with a smile.”
Watch: SVG surprised to win Busch Light Pole at San Diego
Van Gisbergen bested Carson Hocevar by 0.0156s with a fast lap of 2:14.788s. Ryan Blaney will start third, Zane Smith fourth, and Todd Gilliland fifth. Blaney was a little bit quicker than SVG for most of his lap, but lost it through the final set of corners.
Daniel Suarez, Ryan Preece, Connor Zilisch, Michael McDowell, and Austin Hill will out the remainder of the top ten on the starting grid.
Project 91 driver Kevin Magnussen qualified 21st for his NASCAR Cup debut. Notably, championship leader Tyler Reddick spun out, but still reached 17th on the grid. Denny Hamlin is just 19 points behind him, and will start 26th.
Watch: Reddick loops it in Turn 2 during qualifying
Some other notable drivers very deep in the field include William Byron in 27th, Chase Elliott 30th, and an injured Christopher Bell 37th. He will have Brent Crews on standby, and may finish the race for Bell on Sunday.
Jimmie Johnson was the first driver to set a time, and showed just how tricky things were as he had to use the runoff area in Turn 2 to avoid an incident. Erik Jones also smacked the wall at the exit of Turn 16, but there were no red flags during the session.
NASCAR Cup San Diego ‘Anduril 250’ Full Starting Lineup
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