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fromwww.mercurynews.com
2 months ago

San Jose hotel sells for less than prior value in weak lodging market

In a sign of ongoing weakness within the Bay Area hotel market, a San Jose hotel has been bought by a local real estate investment group for far less than the property's prior value. Sonesta Select San Jose Airport was purchased for $14 million, according to documents filed on Aug. 29 with the Santa Clara County Recorder's Office. A San Mateo-based group headed up by Jayesh Keshav, Leena Keshav, Neeraj Keshav, Jai Jalaram, and Krishna Keshav Patel bought the hotel through an affiliate,
Real estate
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