AVR Realty Affiliate Acquires AC Hotel San Jose for $95.4 Million

March 31, 2019

April 01-- Apr. 1--SAN JOSE -- An affiliate of AVR Realty, based in Yonkers, a city about 11 miles from Manhattan, has bought the AC Hotel San Jose, which is a Marriott brand with a European flair that caters to millennial customers. "This is a very strong hotel market in downtown San Jose that AVR Realty is buying into," said Alan Reay, president of Irvine-based Atlas Hospitality Group, which tracks the lodging market in California. "Downtown San Jose is a market where demand exceeds supply." AVR San Jose Downtown Hotel, the AVR affiliate, paid $95.4 million last week to buy the hotel, according to Santa Clara Count...