Carey Watermark Investors Acquires Westin Pasadena for $142.5 Million

Carey Watermark Investors | March 23, 2015

NEW YORK, March 23, 2015 -- Carey Watermark Investors Incorporated (CWI) announced that it has acquired the landmark Westin Pasadena hotel. The full-service hotel includes 350 guestrooms and is located in downtown Pasadena, California. The acquisition price was $142.5 million. Key Facts High quality asset: The Westin Pasadena is a Four Diamond AAA-rated hotel located within the Plaza Las Fuentes, a mixed-use complex with a 178,000 square-foot office building and 15,000 square feet of retail space, including two restaurants. The hotel features Spanish architecture highlighted by a dramatic façade, manicured courtyard garden and sculpt...