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September 20, 2022

Pan Pacific Hotel to change hands, possibly at a loss

Real Estate Editor

The 153-room Pan Pacific Hotel, at 2200 Westlake Ave. N., last traded five years ago for $79 million. The seller then was original developer Vulcan Real Estate. Buyer and current owner Hersha Hospitality Trust announced last week that it will sell the Pan Pacific and a Santa Barbara hotel for a combined $125 million.

The two separate buyers weren't named, and the sales are expected to close in in the fourth quarter. Nor were brokers announced.

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