Two Oakland High Profile core downtown hotels bought by a L.A. Investment group. CIM Group( which specializes in Urban areas such as San Diego, San Jose and Los Angeles) paid 66 Million for the Courtyard Hotel and for the downtonw Oakland Marriot Hotel. Major upgrades and new retail outlets are expected in the vicinity of the hotels.

Here are the reasons cited by the investors:

1) They see the potential for Downtown Oakland

2)  They have a good feeling about what's happening in Oakland

3)  There is untapped potential in Oakland

4) Business Leaders in Oakland welcome their presence

5) Market Analysis looks favorable on what other developers have done downtown

6) Very few new hotels are being built in the Oakland area which supports these two major hotels as focal points in downtown Oakland. 

7) Hotel occupancy rates on the increase in recent years

8) Developers in the area are planning three new office buildings

and more. Read the full article here.

(Our Jack London Loft/Office 311 Oak Street Suite 116 Oakland California 94607 , 510-452-1927)