Blackstone has sold an extended-stay, Marriott-branded hotel in Torrance, near Redondo Beach for about $54 million, or roughly $218,000 per key, according to property and business records. Blackstone’s Matt Vizza, a managing director in the real estate group who handles hospitality assets, signed the deed on behalf of an entity connected to Blackstone in late December. The buyer of the Residence Inn hotel at 3701 Torrance Boulevard is linked to Los Angeles-based investment company Capital Insight founded by Cobby Pourtavosi. Neither buyer nor seller immediately responded to a request for comment. The 248-room hotel is an alternative to vacation rentals […]
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