Dealmaker: Northmarq Brokers $16M Sale of Two San Clemente Hotels

(Illustration courtesy of Northmarq)

Northmarq’s Newport Beach, Calif. office closed the $15.5 million sale of Seahorse Resort and Villa Del Mar Inn, two hotels located in San Clemente, Calif.

Ronnie Givargis led Northmarq’s Newport Beach Commercial Investment Sales team on the deal. Northmarq represented the seller, a local family trust. The buyer was a New York-based LLC.

“Through our marketing efforts, we were able to create a competitive bidding structure which accumulated multiple bidders and ultimately closed approximately 30% above the list price,” Givargis noted.

The adjacent properties at 602 and 612 Avienda Victoria in San Clemente are steps away from the Pacific Ocean and San Clemente Pier and within walking distance of T-Street Beach. Seahorse Resort offers studio suites and one- and two-bedroom suites. Villa Del Mar Inn amenities include a sitting area, garden furniture and tea and coffee facilities.